APL – Letter of intent for New Zealand STP system

APL has received a Letter of Intent from Tanker Pacific Offshore Terminals Pte Ltd for the supply of a Submerged Turret Production (STP) system for Maari. The STP system will be installed early 2008 and shall permanently moor the Andaman Sea, a tanker that Tanker Pacific shall convert to a FPSO. Maari, the largest oilfield offshore New Zealand, is operated by OMV New Zealand Ltd (69%) with is partners Todd Petroleum Mining Company Ltd (16%), Horizon Oil International Ltd and Cue Taranaki Pty Ltd (5%).