Offshore staff
SCHIEDAM, Netherlands -- Woodside Energy Ltd., operator of the North West Shelf Venture, has sent a letter of intent to SBM Offshore NV for the turnkey supply of a disconnectable FPSO to replace the FPSO Cossack Pioneer in 3Q 2010.
TheOkha FSO will be converted into an FPSO with a disconnectable turret. The Okha FSO currently is under contract with SEIC for operation in Sakhalin until December of this year. On release it will sail to a shipyard for conversion and integration of the process modules and turret.
The disconnectable turret on the Cossack Pioneer FPSO was supplied by SBM in 1994. The fixed part of the turret, which is connected to the seabed with mooring lines and connects the production risers to the FPSO, will be reused for the new FPSO allowing quick hook up and minimal downtime when changing out the vessels.
The commitment under this LOI is limited to $145 million and subject to Project Final Investment Decision, with the portfolio value of the full contract scope expected to be around $700 million.
05/30/2008
