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Pan United Marine wins debut FPSO conversion

Singapore: Pan United Marine has signed its first FPSO (floating production, storage and offloading) conversion contract involving a tanker belonging to Norwegian start-up company Nortechs FPSO, majority controlled by shipowner Arne Blystad.

The S$11m ($6.5m) contract will involve the 'fast track' conversion of Nortechs' 55,337dwt tanker East Fortune into the FPSO East Fortune, reports Ship Repair Newsletter. Although that the smaller end of the FPSO conversion league, Pan United will use this contract to 'test the water' for larger FPSO conversion projects which will require the yard to invest in developing its shipyard infrastructure and facilities.  
    
After conversion work is completed in September 2007 the vessel will have accommodation for 60 persons, an eight-line spread mooring system, six risers, oil storage capacity of 360,000 barrels, oil production of 30,000 bopd and water production of 25,000 barrels per day. East Fortune was built in 1983 by Norwegian shipyard Horten Vaerft.
   
Nortechs FPSO, which operates out of both Norway and Singapore, also has two other tankers ready for conversion into FPSOs - the 1989-built, 140,000dwt East Venture and the 1987-built East Challenger. [29/12/06]

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