A contract to supply a floatingproduction, storage and offloading (FPSO) vessel for development ofVietnam’s Te Giac Trang offshore oilfield was signed in the southerncoastal province of Ba Ria-Vung Tau on Nov. 20.
Under the contract, the Hoang Long Joint Operating Company will hirethe FPSO vessel in seven years at a cost of 700 million USD.
The Malaysian group Bumi Armada will buy a ship to be converted intothe floating production, storage and offloading facility, whileVietSovpetro will re-fit the vessel, run trials, serve as operator andprovide maintenance during the contracted period.
The FPSO is designed to store up to 1 million barrels of crude andhandle 45,000 barrels of oil per day. It is upgraded from a 12 year-oldoil ship Jag Layak. The upgrade will take 22 months at the KeppleShipyard in Singapore.
The FPSO is scheduled to be put into operation on June 30, 2011, inline with the Vietnam Oil and Gas Group (PVN)’s plan for development ofthe Te Giac Trang oilfield.
Also at the contract signing ceremony, the Bumi Armada-Vietsovpetropartnership presented 10 scholarships worth 7,000 USD to students atthe PVN’s oil and gas industry college and donated 9,000 USD to thevocational training centre for the disabled under the Ho Chi Minh Citysponsorship association for the disabled and orphans./.
Under the contract, the Hoang Long Joint Operating Company will hirethe FPSO vessel in seven years at a cost of 700 million USD.
The Malaysian group Bumi Armada will buy a ship to be converted intothe floating production, storage and offloading facility, whileVietSovpetro will re-fit the vessel, run trials, serve as operator andprovide maintenance during the contracted period.
The FPSO is designed to store up to 1 million barrels of crude andhandle 45,000 barrels of oil per day. It is upgraded from a 12 year-oldoil ship Jag Layak. The upgrade will take 22 months at the KeppleShipyard in Singapore.
The FPSO is scheduled to be put into operation on June 30, 2011, inline with the Vietnam Oil and Gas Group (PVN)’s plan for development ofthe Te Giac Trang oilfield.
Also at the contract signing ceremony, the Bumi Armada-Vietsovpetropartnership presented 10 scholarships worth 7,000 USD to students atthe PVN’s oil and gas industry college and donated 9,000 USD to thevocational training centre for the disabled under the Ho Chi Minh Citysponsorship association for the disabled and orphans./.
