14 Apr 2003

SembCorp Marine’s Subsidary Jurong Shipyard Achieves Construction Completion of FPSO Fluminense on Schedule

Jurong Shipyard Pte Ltd, a subsidiary of SembCorp Marine has achieved construction completion of the 356,400 dwt Floating Production Storage Offloading (FPSO) Fluminense on schedule to MODEC International LLC.

MODEC International LLC and client SHELL International, Exploration & Production congratulated the shipyard for outstanding performance and in meeting the very tight and challenging delivery schedule.

Mr Shashank Karve, President and CEO of MODEC International said “Jurong Shipyard’s strong management commitment and teamwork are highly commendable and have contributed tremendously to the successful completion of the project on schedule. Despite the very tight schedule, the extensiveness and many challenges faced by the project teams from Jurong Shipyard, MODEC and SHELL, I am very pleased to note that they have worked well and brought about the successful completion of the project.”

Said Mr Tan Kwi Kin, President of SembCorp Marine and Chairman of Jurong Shipyard Pte Ltd, “The successful conversion of the FPSO Fluminense marks another milestone for Jurong Shipyard and strengthens the long-standing relationship the shipyard has with MODEC. Having worked with MODEC on six previous conversion projects, we have come to understand MODEC’s stringent requirements in safety, project execution and work quality”. Mr Tan further added “the delivery of this conversion project reinforces the confidence MODEC has in our ship conversion expertise, the quality work, safety standards and our ability to work with MODEC and their customers to deliver the projects on schedule.”

Measuring 363m x 61m x 29m, the 356,400 dwt FPSO Fluminense has a production capacity of 81,000 barrels of oil per day and a storage capacity of 1.2 million barrels of oil. The conversion of this Ultra Large Crude Carrier (ULCC), Ex-Sahara to the present FPSO Fluminense involved significant steel renewal and strengthening, extensive coating and cathodic protection, the installation of process skids, helideck, metering system, flare tower, deck cranes and upgrading of the accommodation. Over 300,000 m² of the ULCC’s cargo tanks were grit blasted and coated. The completed FPSO is also fitted with the world’s largest external turret mooring system weighing 1300 tonnes.

The FPSO will serve under a lease to SHELL Brazil Ltda in the Bijupira and Salema Oilfields at the Campos Basin offshore Brazil, some 145 km from Macae. The FPSO is slated to receive the first oil early third quarter 2003 and will operate at a water depth of between 780 to 880 metres.

FPSO Fluminense
Major conversion projects undertaken by Jurong Shipyard for MODEC include:
Name of UnitTypeClientFieldStorage CapacityYear
Nan Hai Sheng LiFPSOAmocoLiuhua 11-1650,000 bbls1993
MadielaFSOMarathonTchatamba1,000,000 bbls1997
Ta’kuntahFSOPemexCantarell2,300,000 bbls1998
Modec Venture 1FPSOBHPPElang/Kakatua850,000 bbls1998
Buffalo VentureFPSOModecBuffalo850,000 bbls1999
MV8 Langsa VentureFPSOModecLangsa Field72,400 bbls2001


More about SembCorp Marine and Jurong Shipyard

SembCorp Marine, the marine engineering arm of SembCorp Industries, is a leading global marine engineering group specialising in ship repair, newbuilding, ship conversion and offshore engineering. With a combined docking capacity of 2.3 million dwt, SembCorp Marine offers one of the largest ship repair, ship conversion, offshore and associated marine facilities through eight strategically located shipyards comprising four in Singapore, two in China and one each in Indonesia and Brazil.

Jurong Shipyard, a wholly owned subsidiary of SembCorp Marine, is a leading yard in ship repair, newbuilding, ship conversion and offshore engineering. Current conversion projects in the shipyard include the conversion of the 357,000 dwt ULCC Stena Companion to a Floating Storage Offloading (FSO) unit, the 270,000 dwt Very Large Crude Carrier (VLCC) Stena Continent conversion to an FPSO for the Barracuda oilfield and the conversion of the 280,000 dwt VLCC Felipe Camarao to an FPSO for the Albacora Leste oilfield. The shipyard is also currently building two units of the world’s most advanced generation of semisubmersible oilrigs for GlobalSanteFe Drilling, one of the largest drilling contractors in the world.

For further information or clarification, please contact:

Ms Judy Han
Vice President
Investor Relations & Communications
Tel : 65 6262 7203
Fax : 65 6261 0738
E-mail : judy@jspl.com.sg