CNOOC issues LOI for two STP's

China National Offshore Oil Corp. has awarded APL a letter of intent for the delivery of turret, mooring, and swivel systems for two FPSO's. APL shall deliver two submerged turret production systems within two years.

Offshore staff

(China)-China National Offshore Oil Corp. has awarded APL a letter of intent for the delivery of turret, mooring, and swivel systems for two FPSO's. APL shall deliver two submerged turret production systems within two years.

The contract has a value of $60 million. For both applications, the FPSO's are to be moored permanently to withstand100 years of typhoon conditions.

In order to serve the client efficiently on these and future APL projects, an APL representative office will be opened in Shanghai. The APL team of engineers will supervise from Shanghai with an increased amount of fabrication and procurement from China.

09/13/05

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