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Jurong Shipyard awarded MODEC FPSO conversion contract

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Offshore staff

SINGAPORE -- MODEC has awarded Jurong Shipyard a $133 million contract to convert the VLCC tanker PSVM (ex Bourgogne), to an FPSO.

This conversion contract involves the installation of an external turret mooring system and process facilities, which include gas turbine generators, oil separation, gas injection/gas lift, and water injection system. Planned delivery to MODEC is 1Q 2011.

The FPSO is designed to operate for 20 years without dry docking. It will have production capacity of 150,000 b/d of oil and a storage capacity of 1.6 MMbbl of oil.

The FPSO will be delivered to BP for deployment in the Plutão, Saturno, Vênus, and Marte ("PSVM") fields in Block 31 offshore Angola, located in water depths of between 1,500 and 2,500 m (4,921 and 8,202 ft).

12/09/2008

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