Two FPSO Orders Achieved

2010-7-8

The steel cutting ceremony for RADIANT JEWEL, the MODEC FPSO conversion project, was held in COSCO Dalian Shipyard on 3rd of June. Representatives from the shipowner, Class and the shipyard attended the ceremony.

The RADIANT JEWEL is the sixth FPSO conversion project being carried out for MODEC by COSCO Dalian Shipyard and involves the conversion of a VLCC to an FPSO. COSCO Dalian Shipyard has accumulated a lot of experience in FPSO conversions and has now established a stable partnership with MODEC through their previous FPSO conversion projects.

Recently another FPSO conversion order, VLCC to FPSO project BW NISA, was won by COSCO Dalian Shipyard. This project is the first for BW Offshore, a famous Norwegian enterprise with 25 years service experience in off-shore oil and natural gas. That COSCO Dalian Shipyard won this order during a downturn in the repair & conversion market again underlined the strength of the brand identity now enjoyed by China¡¯s largest FPSO conversion shipyard and further marked new progress in exploiting the offshore fabrication and conversion market.

COSCO Shipyard Group Co. Ltd.