Having completed the acquisition of the former Fred Olsen Production from Norway last year, the Malaysian company has secured their firstborn contract under the new flagship to provide a vessel for Eni’s Sankofa-Gye Nyame Project off Ghana. Also known as the OCTP-Offshore Cape Three Points FPSO project, the award is estimated at around US$ 2.5 Billion. A Samsung-built 309,000-dwt VLCC tanker Ulreiken is intended for the conversion into FPSO Yinson Genesis, with a storage capacity of 1.7 million barrels of oil, process capability of 58,000 barrels of oil per day and 150 million cubic feet per day of gas. The floating production vessel’s hull modifications will be carried out in HuaRun DaDong Dockyard in China, topside modules to be fabricated out from an appointed PTSC yard in Vietnam, with final fitments in Sembcorp’s Jurong Shipyard, before sail-away date set in early-017. First Oil is targeted for Q2 2017. Yinson still keeps her engineering office in Norway, and executes new FPSO projects in Singapore’s Samsung Hub building, which houses the project procurement and technical engineering teams.
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