SembMarine wins $661 mil Statoil contract to build FPSO hull and living quarters

SembMarine wins $661 mil Statoil contract to build FPSO hull and living quarters

By: 
PC Lee
07/12/17, 07:24 am

SINGAPORE (Dec 7): A Sembcorp Marine subsidiary has won a US$490 million ($661 million) contract from Statoil Petroleum AS.

Sembcorp Marine Rigs & Floaters has been tasked to undertake the turnkey engineering, procurement and construction of hull and living quarters for a newbuild floating production, storage and offloading vessel (FPSO).

To be deployed at the Johan Castberg field development in the Barents Sea, about 240km from Hammerfest, Norway, the FPSO will have a hull 55m wide and 295m long.

Advertisement

It will be self-contained for harsh-environment operation, with living quarters accommodating up to 140 personnel.

The project is scheduled for completion in the first quarter of 2020.

The contract follows the signing of a Letter of Intent between the two parties, announced on Nov 10.

The contract is not expected to have any material impact on the net tangible assets and earnings per share of the group for the year ending December 31, 2017.

Shares in Sembcorp Marine closed 3 cents lower at $1.88.

Datapulse Tech sinks in 1Q losses on impairment loss

SINGAPORE (Dec 13): Datapulse Technology sunk into losses of $1.3 million for the 1Q18 ended October from earnings of $6.2 million a year ago. In 1Q18, revenue from continuing operations fell 31.2% to $3.9 million due to the continued shrinking demand for media storage products and services during the quarter. In 2016, the group entered into a share sale and purchase agreement to dispose of its entire shareholding in One Global Inc, a wholly-owned subsidiary in Taiwan. Other income from continuing operations rose 5.4% to $117,000. However, total operating expenses rose 4.1% to $5.3....
Read More >>

Far East Group subsidiary to sell Selangor factory property for $3.8 mil

SINGAPORE (Dec 13): Refrigeration and air-conditioning systems manufacturer Far East Group announced Wednesday that wholly-owned subsidiary Far East Maju Engineering Works has accepted a letter of offer to sell its factory property in Selangor, Malaysia for RM 11.5 million ($3.8 million). Currently used as a warehouse, the property includes a single storey factory building, a double storey office building, and a piece of freehold industrial land spanning 4,485 sqm. The proposed disposal is expected to result in a gain on disposal of approximately $2.5 million after deducting estimated re....
Read More >>

SIIC Environment subsidiary awarded BOT wastewater project in Jiangsu

SINGAPORE (Dec 13): Nanfang Water, a 91.203%-owned subsidiary of SIIC Environment Holdings, has been awarded a build-operate-transfer (BOT) contract for a wastewater project at HuangQiao Industrial Park in Taixin City, Jiangsu Province, China, by the industrial park's administrative committee.  In a Wednesday announcement, SIIC Environment says the project entails the construction and operation of a wastewater treatment plant with a design capacity of 20,000 tons per day, with a Grade 1A discharge standard for a concessionary period of 30 years beginning from the agreement signing....
Read More >>