Sembcorp Marine wins $490m FPSO building contract

It signed a letter of intent with Statoil Petroleum AS.

Sembcorp Marine's subsidiary Sembcorp Marine Rigs & Floaters Pte Ltd won a $490m contract for the construction of a new Floating, Production, Storage, and Offloading (FPSO) hull and living quarters.

According to a press release, it signed a letter of intent with Norway-based Statoil Petroleum AS (Statoil). The contract will be signed at the final investment decision scheduled before Christmas.

It was selected in the tender for the turnkey Engineering, Procurement and Construction of a newbuild FPSO Hull and Living Quarters for the Johan Castberg field development.

According to Statoil, the Johan Castberg field development project’s resource base consists of the three oil discoveries Skrugard, Havis and Drivis, located in PL 532. Its aim is to assess the foundation for an onshore terminal that could support multiple fields in the Barents Sea.