Aker awarded multiple offshore loading systems contracts

Teekay Corp., Cosco Nantong Shipyard Co., and Hyundai Heavy Industries have awarded Aker Solutions contracts totaling $10 million for the supply of offshore loading systems and deck machinery.

Offshore staff

OSLO -- Teekay Corp., Cosco Nantong Shipyard Co., and Hyundai Heavy Industries have awarded Aker Solutions contracts totaling $10 million for the supply of offshore loading systems and deck machinery.

The Cosco contracts consist of bow loading systems and deck machinery for two shuttle tankers being built for Knutsen OAS Shipping. The contract with Hyundai is for an offloading system for the Usan FPSO.

The offloading system to be delivered by Aker Solutions is a configuration of mooring and offloading equipment at the stern/bow of the FSO/FPSO that allows for offshore transfer of crude oil from the FSO/FPSO to a tanker.

The system can operate at rates up to 10,000 cu m/hr. TheUsan FPSO will be located offshore Nigeria and operated by Elf Petroleum Nigeria Ltd.

Delivery of the offshore loading systems will take place in 3Q 2009 with the exception of the second bow loading system to Cosco which will take place in 2Q 2010.

12/18/2008

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