Singapore

THE rigs and floaters division of Sembcorp Marine is set to land a US$490 million contract, its largest announced contract win tied to an offshore field development this year.

Sembmarine said on Friday that its wholly-owned subsidiary, Sembcorp Marine Rigs & Floaters Pte Ltd, has entered into a letter of intent (LOI) with Norway's Statoil for the turnkey delivery of a newbuild FPSO (floating production, storage and offloading vessel) hull and living quarters.