FPSO headed for India

Aker Floating Production ASA has signed a Letter of Intent to provide and operate the FPSO Aker Smart 1 off India. The five- to 10-year charter is scheduled to start in February 2008 with the unnamed client.
May 15, 2007
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Offshore staff

FORNEBU, Norway --Aker Floating Production ASA has signed a Letter of Intent to provide and operate the FPSO Aker Smart 1 off India. The five- to 10-year charter is scheduled to start in February 2008 with the unnamed client.

The $1 billion contract also covers subsea hardware and installation plus a purchase option. The FPSO lease is $600 million of the total. Water depths are given as 1,100 -- 1,400 m (3,609 – 4,593 ft).

The FPSO has the capacity to produce 60,000 b/d of oil and gas treatment, injection and export facilities will be installed with 3 MMcm/d (106 MMcf/d) capacity. Aker Floating Production says it will spend $300 million for the facilities, in addition to the base cost of the FPSO.

5/15/2007

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