Sembawang Shipyard bags $475m FPSO conversion contract

The Singapore-based shipyard will convert two VLCC sister ships into two turret-moored FPSOs.

The first VLCC, Olympia, is expected to enter Sembawang Shipyard in the third quarter of 2014 while the second VLCC, Antartica, will be in the yard in the first quarter of 2015. The total project duration will be 32 months.

Major works include refurbishment of the VLCCs, construction engineering, the fabrication of flare, helideck, upper turret and access structure, intergration of the topsides modules and lower turret components, and pre-commissioning of the FPSOs.

The two converted FPSO units, owned by France’s oil firm Total, will each have an oil treating capacity of 115,000 barrels per day, a water injection capacity of 200,000 barrels per day, a 100 million scfd gas compression capacity and a storage capacity of 1.7 million barrels of oil.

“The buoyant offshore market offers exciting opportunities for both the shipyard and owners and we look forward to a long term collaborative partnership with Saipem,” said Ong Poh Kwee, deputy president of Sembcorp Marine and managing director of Sembawang Shipyard.