Vietnamese state-owned shipyard Vinashin began construction on a floating storage and offloading unit (FSO) Thursday in northern Hai Phong City for an affiliate of state giant PetroVietnam.
Under an agreement signed last December between Vinashin and Petroleum Technical Service Company (PTSC), FSO-05 will be designed to have a loading capacity of 150,000 tons and handle 15,000 tons of oil a day. This is the first time a FSO has been built in Vietnam with cutting edge technology and facilities.
FSOs are used in oil fields where it is impossible to lay pipes linking the drilling platform with onshore facilities. The drilling platform transfers oil to the FSO where it is stored until a tanker arrives. Built under advanced British technology, the US$110-million FSO-05 stands 276m long and 46m wide.
Work on the unit, conducted by Vinashin’s Nam Trieu Ship Industry Company, is slated for completion in 18 months’ time.
PTSC, which provides oil and gas technical services for both domestic and foreign companies in Vietnam, has plans to expand into Southeast Asia.
Under an agreement signed last December between Vinashin and Petroleum Technical Service Company (PTSC), FSO-05 will be designed to have a loading capacity of 150,000 tons and handle 15,000 tons of oil a day. This is the first time a FSO has been built in Vietnam with cutting edge technology and facilities.
FSOs are used in oil fields where it is impossible to lay pipes linking the drilling platform with onshore facilities. The drilling platform transfers oil to the FSO where it is stored until a tanker arrives. Built under advanced British technology, the US$110-million FSO-05 stands 276m long and 46m wide.
Work on the unit, conducted by Vinashin’s Nam Trieu Ship Industry Company, is slated for completion in 18 months’ time.
PTSC, which provides oil and gas technical services for both domestic and foreign companies in Vietnam, has plans to expand into Southeast Asia.