Singapore FSO vessel to operate in petroChina's Jabung block
Wednesday, April 19 2006 - 03:28 PM WIB
Singapore integrated engineering and procurement specialist Federal Int(2000) Ltd. announced on Wednesday that its first floating, storage & off-loading (FSO)vessel, ?Federal I?, is set to sail tomorrow to commence its chartering services to PetroChina International Jabung Limited.
Federal, together with partners had secured a 10-year contract of US$91.325 million from PetroChina to provide time charter of FSO vessel services to support PetroChina?s operational activities in Jabung Block in Jambi Province.
The time charter contract is for an initial period of 10 years with an option for another five years.
PetroChina is the operator of Jabung Block with 42.5 percent working interest. The block is currently producing gas, liquids and LPG.
PetroChina will be chartering ?Federal I?, which will be moored at its terminal to receive, store and off-load crude oil.
?Federal I? was converted from a Suez-Max tanker and is built with a one-million barrel capacity.(alex)