Olsen, Marubeni JV contracts for Vietnam FPSO

Fred. Olsen Production, in a joint venture with Marubeni Corp., has signed a letter of intent with PetroVietnam Technical Services Corp. for construction and installation of an FPSO for Thang Long and Dong Do fields.

Offshore staff

OSLO, Norway – Fred. Olsen Production, in a joint venture with Marubeni Corp., has signed a letter of intent with PetroVietnam Technical Services Corp. for construction and installation of an FPSO for Thang Long and Dong Do fields.

The contract, which includes chartering the FPSO, is for seven years with yearly options after that. The project is to begin in 3Q 2013.

12/09/2011

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