Contract signed for Te Giac Trang field FPSO

Hoang Long Joint Operating Co. has contracted Bumi Armada Berhad and Vietsovpetro for an FPSO destined for the Te Giac Trang field development, offshore Vietnam.

Offshore staff

HO CHI MINH CITY, Vietnam -- Hoang Long Joint Operating Co. has contracted Bumi Armada Berhad and Vietsovpetro for an FPSO destined for the Te Giac Trang field development, offshore Vietnam. Bumi Armada has acquired a Suezmax tanker for the conversion.

The contract is for an initial term of seven years and has one-year extensions up to 15 years. It also covers offshore installation, hookup, and commissioning of the FPSO. The FPSO will have a production capacity of 45,000 b/d and 1 MMbbl of storage.

Hoang Long Joint Operating Co. comprises Petrovietnam, Soco International, PTTEP, and OPECO.

11/23/2009

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