COSCO (Dalian) Shipyard has secured a Floating Production Storage and Offloading vessel (FPSO) conversion contract from MODEC Offshore Production Systems (Singapore).
The new contract will bring the shipyard and its parent company, the Singapore-based COSCO Corporation, around USD 95 million.
The converted FPSO vessel is scheduled for delivery in the fourth quarter of 2016.
MODEC is a general contractor specializing in engineering, procurement, construction and installation of floating production systems including FPSO vessels, Floating Storage and Offloading (FSO) vessels, Tension Leg Platforms (TLPs), Production Semi-Submersibles, Mobile Offshore Production Units (MOPUs) and other technologies intended to meet the challenges of various types of gas production floaters.