TOKYO -- MODEC's newly-built FSO RANG DONG MV17 has set sail for installation in Rang Dong field, block 15-2, approximately 135 km (84 mi) off southeast Vung Tau City, Vietnam. First oil is expected in September 2008.
The FSO was delivered by COSCO (Zhoushan) Shipyard Co. Ltd. MODEC was responsible for the engineering, procurement, construction, installation, and commissioning of the FSO, and will own and operate the FSO under a nine-year agreement with the field operator, Japan Vietnam Petroleum Co. Ltd.
The unit has a storage capacity of 350,000 bbl and a total inlet capacity of 60,000 b/d of oil. The FSO will be installed in approximately 60 m (197 ft) of water. An external turret on the FSO was supplied by SOFEC Inc.
This is COSCO's first offshore facility, and the first project COSCO has completed with MODEC.