China: COSCO Wins USD 370 Mln FPSO Contract

China - COSCO Wins USD 370 Mln FPSO Contract

COSCO Corporation (Singapore) Limited announced today that COSCO Nantong Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a contract valued over USD370 million from a European company to build a floating production storage and offloading (FPSO) unit.

The FPSO will measure 78 meters in diameter, will be 32 meters high and will have a storage capacity of up to 400,000 barrels of oil. The FPSO is scheduled for delivery in June 2015.
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COSCO, December 17, 2012