Deltamarine bags Libra FPSO conversion deal

Deltamarin Ltd has entered into a contract with Jurong Shipyard Pte Ltd for the basic engineering of the Libra FPSO (floating production, storage and offloading unit).

Deltamarin’s scope of work covers the marine part of the conversion of the Navion Norvegia shuttle tanker into the Libra FPSO.

The conversion will be performed at the Singaporean Jurong Shipyard, whose customer is OOGTK Libra GmbH & Co KG, a 50/50 joint venture between Odebrecht Oil & Gas and Teekay Offshore. The joint venture company works as the lead commercial bidder for the Brazilian energy company Petrobras on the Libra project. The vessel is expected to be owned and operated by OOGTK and chartered to Petrobras. It will be serving the Libra pre-salt field in the ultra-deepwater section of Brazil’s Santos Basin as an early well-testing unit.

The contract guarantees the continuation of Deltamarin’s involvement in the Libra project as the company has earlier participated in the outline phase design of the unit, Deltamarin said.

“We are very happy to be a part of this fast track FPSO project and we strongly believe it will be a success for all parties. This contract shows the market’s strong belief in Deltamarin’s ability to perform in technically complex fast track offshore engineering projects,” says Deltamarin’s Offshore Director Oskari Jaakkola.

The FPSO completion is scheduled for the third quarter of 2016 and it is planned to start its operations in late 2016. The production capacity will be 50,000 barrels of oil per day and 4 million cubic metres of natural gas per day.

The contract value of Deltamarin’s engineering work is 3.2 M€ ($4.07 M) and the work is to be completed during the second quarter of 2015.

Press Release; Image: Petrobras

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