Sembcorp Marine unit bags vessel contract

Sembcorp Marine Rigs & Floaters has secured a contract from TechnipFMC to undertake the engineering, procurement and construction of hull and living quarters for a newbuild floating production, storage and off-loading vessel.

The company is a unit of mainboard-listed Sembcorp Marine (SembMarine).

The contract with TechnipFMC - a British-based company that provides complete project life cycle services for the energy industry - includes fabrication and integration of various topside modules, as well as the installation of owner-furnished equipment, SembMarine said in a filing with the Singapore Exchange yesterday.

The vessel's hull is about 227m long and 50m wide, with a total oil storage capacity of 800,000 barrels and gas production capacity of eight billion cubic m per annum, SembMarine added.

It is scheduled for completion in the fourth quarter of 2020, and will be deployed at the Energean-operated Karish and Tanin deepwater field developments in the Eastern Mediterranean, about 90km offshore Israel.

SembMarine said the contract is not expected to have any material impact on the net tangible assets and earnings per share of the group for the year ending on Dec 31, 2018.

A version of this article appeared in the print edition of The Straits Times on March 29, 2018, with the headline 'Sembcorp Marine unit bags vessel contract'. Print Edition | Subscribe