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SEMBCORP Marine on Wednesday said it has secured a US$490 million contract from Statoil Petroleum through its wholly owned subsidiary, Sembcorp Marine Rigs & Floaters.
The contract involves turnkey engineering, procurement and construction of hull and living quarters for a newbuild floating production, storage and offloading vessel (FPSO).
This contract follows the signing of a letter of intent between the two parties, as announced on Nov 10.
To be deployed at the Johan Castberg field development in the Barents Sea, about 240km from Hammerfest, Norway, the FPSO will have a hull approximately 55 metres wide and 295 metres long. It will be self-contained for harsh-environment operation, with living quarters accommodating up to 140 personnel.
The project is scheduled for completion in the first quarter of 2020.