The Mutineer-Exeter oil discovery is being developed by the Santos, KUFPEC, Nippon Oil and Woodside joint venture. First oil production from Mutineer-Exeter is planned for mid-2005, according to Santos managing director John Ellice-Flint.

“Mutineer-Exeter is a landmark project for Santos as it is our first offshore oil development as Operator,” Ellice-Flint said.

“Today’s naming ceremony is therefore a major milestone in the project’s progress,” he said.

The FPSO – named the MODEC Venture 11 – will leave Singapore in early 2005 to take up anchorage off the WA coast.

The vessel was christened today in Singapore's Jurong shipyard by Ellice-Flint's wife, Catherine.

“The vessel sailed into the shipyard only 10 months ago as a Suez Max class tanker and has undergone an exceptional and rapid conversion into one of the world’s most modern FPSO facilities," Ellice-Flint said.

“The conversion was achieved over one and a half million man-hours without a lost time injury. This excellent safety performance will be reinforced during the re-location voyage, and when operational.”