South Korea’s shipyard, Samsung Heavy Industries has announced its Nigerian subsidiary has secured an order to build a Floating Production Storage and Offloading Vessel for Total Upstream Petroleum Nigeria Limited.
The value of the order is approximately $3.0 billion, which will make the vessel the most expensive FPSO ever. Also, according to Samsungvillage.com, the vessel will, once completed, be the largest of its kind in the world.
The FPSO will be 330 meters long , 61 meters wide and 34 meters tall. It will be able to carry 2.3 million barrels of crude.
First production from the vessel, which will be moored offshore Nigeria, is expected to start in 2017.