COSCO secures FPSO contract valued at over $370MM

COSCO Corporation (Singapore) announced that its subsidiary COSCO Nantong Shipyard has secured a contract valued over $370 million with an undisclosed European company for construction of a floating production storage and offloading (FPSO) unit.

The FPSO is scheduled for delivery in June 2015 and will have a storage capacity of up to 400,000 barrels of oil.

COSCO said the contract is not expected to have a material impact on the net tangible assets and earnings per share of the company for the year ending December 31, 2012.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs