SembCorp Marine said yesterday that its subsidiary Jurong Shipyard had been awarded the floating production storage and offloading vessel (FPSO) contracts by Singapore-headquartered company Tanker Pacific Offshore Terminals.
The Maari contract, which would start immediately, would involve converting the 92,802 deadweight tonne tanker Andaman Sea.
This would entail installing an internal turret, three on-deck boilers to generate up to 20MW of power, renewing the entire piping and electrical systems, and installing facilities for crude separation, water injection and chemical injection.
Once the contract was completed during the last quarter of 2007 the FPSO would be renamed Raroa. It would then be leased to Maari operator, OMV New Zealand.
The Raroa would be able to process up to 40,000 barrels of oil per day (bopd) with a storage capacity of up to 646,548 barrels of oil, and to operate for 15 years without dry docking.
Total 2P (P50) recoverable reserves in the Maari petroleum mining licence PMP 38160 are estimated to exceed 50 million barrels of crude, with another 10-20MMbbl upside potential. Total gross initial oil production rate is expected to be about 35,000bopd, from the second quarter of 2008, with production continuing for about 10 years.
The Maari partners are operator OMV NZ (69%), Horizon Oil (10%), Todd Petroleum Mining (16%) and Cue Energy Resources (5%).
SembCorp said the Montara contract would follow the Maari fitout. It would involve converting the 148,255 dwt oil tanker Freeway into an FPSO for deployment in the Timor Sea Montara field.
On completion of this contract, expected during the second quarter of 2008, the Freeway would be renamed Montara Venture and chartered to Montara operator Coogee Resources.
The Montara Venture would undergo extensive life extension and conversion works, including an internal turret and process facilities for crude separation, gas compression, gas lift and gas re-injection.
It would be designed to operate for 20 years without dry docking and would have a production capacity of 40,000bopd and a storage capacity of 900,000bbl.
Perth-based Coogee Resources operates and is currently the sole stakeholder of the 37MMbbl Montara/Skua oil field, in AC/P34, which is scheduled for first oil from mid-2008.
