Dyna-Mac to deliver FPSO topsides modules for Eni’s Angola project

Singapore's Dyna-Mac Holdings Ltd has announced that it has secured a Letter of Award (LoA) with the preliminary sum of approximately US$48 million (SGD60 million) for the construction of 6 units of floating production, storage and offloading (FPSO) topsides modules from Armada Cabaca Ltd., an affiliate of Bumi Armada Berhad (Bumi Armada), a leading Malaysia-based international oilfield services provider to the oil and gas industry.

Providing topsides modules for an FPSO destined for offshore Angola

Dyna-Mac’s scope includes detailed engineering and the fabrication of 6 units of topsides modules for an FPSO vessel that will be deployed at Eni’s Block 15/06 East Hub field, located 217 miles (350 km) northeast of Luanda in deepwater offshore Angola. The topsides FPSO modules are scheduled to be delivered progressively to the owner within the 1Q16. The FPSO will be capable of crude oil production rate of 80 000 bpd of oil with a storage capacity of 1 800 000 bbls and 120 000 bpd of water injection and 120 million ft3/d of gas handling capacities.

The 4th generation FPSO, currently undergoing conversion from a very large crude carrier will have a topside weight of 15 000 t and will be moored at a water depth of 1476 ft (450 m) with first oil targeted in the 4Q16.

Commentary

Desmond Lim, CEO of Dyna-Mac said “We are delighted to be selected by Bumi Armada’s affiliate, Armada Cabaca Ltd to partner them in their strategy as a top-tier global FPSO player. Since 2011 we have successfully delivered 14 units of the topside modules to their fleet of FPSOs with 4 more modules in various stages of construction. We are heartened by their trust and confidence in our offshore topside modules building capabilities. We are fully committed to the timely delivery of the modules entrusted to us while meeting stringent quality, safety, health and environmental standards. We will continue to build on this partnership to achieve win-win synergy going forward.”

Barring unforeseen circumstances, the award is expected to contribute positively to the earnings, net tangible assets and earnings per share of Dyna-Mac for the financial year ending December.

 

Adapted from press release by Cecilia Rehn

Published on 10/02/2015


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