MODEC names new FPSO

MODEC, BHP Billiton, and the Jurong Shipyard celebrated the Naming Ceremony of the Stybarrow Venture MV16 FPSO on Friday, Aug. 10, 2007.

Offshore staff

SINGAPORE -- MODEC, BHP Billiton, and the Jurong Shipyard celebrated the Naming Ceremony of the Stybarrow Venture MV16 FPSO on Friday, Aug. 10, 2007.

MODEC owns and operates the vessel. BHP Billiton holds the long-term lease for the FPSO, which is at the Jurong shipyard undergoing topsides integration.

Construction on the newbuild FPSO was finished in only 16 months. "This exceptional success is a result of the excellent teamwork and respect among BHP Billiton, MODEC, and Jurong that was maintained throughout the project," says Kenji Yamada, president and CEO of MODEC Inc.

The FPSO will work in permit WA-255-P (2) in the Exmouth sub-basin 65 km (40 mi) from Exmouth, off the northwest coast of Australia. The unit has a storage capacity of 900,000 barrels, a total liquid process capacity of 100,000 b/d, a crude production capacity of 80,000 b/d of oil, and gas production capacity of 45 MMcf/d. The FPSO has an internal disconnectable turret, which was provided by Sofec.

The FPSO is scheduled to sail from the Jurong shipyard in late August. It will be installed in 825 m (2,707 ft) water depth. First oil is planned for 1Q 2008.

8/15/2007

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