Dubai-based Marine Assets Corporation (MAC) is moving forward with the construction of its 227 meters long production support vessel (PSV) at Fujian Mawei Shipbuilding in China.
The vessel is to be used by the Toronto-based underwater mineral exploration company, Nautilus Minerals and its PNG partner, Eda Kopa (Solwara) Limited, as the base for its seafloor operations planned at the Solwara 1 Project, in the Bismarck Sea of Papua New Guinea.
The steel cutting ceremony for the PSV took place on September 25, 2015, and now with the installation of the bow block, made up of 3 separate blocks, weighing 480t in total, the main hull section nears completion.
When its construction is completed in the first quarter of 2018, the vessel is scheduled to go on a 5-year charter with Nautilus Minerals.
As previously informed, Nautilus said it requires additional funding in order to continue development of the Solwara 1 Project, and if secured by June 2017, it could be in a position to begin the initial deployment and testing operations at the Solwara 1 Project by the end of Q1 2019.
Subsea World News Staff