Cosco to convert VLCCs into FPSOs

The contracts involve repair and conversion of the VLCCs Radiant Jewel and BW Nisa.

When converted into a FPSO, the 302,419 dwt VLCC Radiant Jewel, owned by Tanker Pacific Management, is designed to operate for 20 years without drydocking and will have a production capacity of 24,000m3 oil per day, 5,000,000 Nm3 gas per day and a storage capacity of 1,500,000 barrels of oil (“bbl”). The FPSO is scheduled to be re-delivered to its owner around the third-quarter of 2011 for deployment in the Petrobras’ Tupi Oil Field, near Brazil.

The BW Offshore owned 322,912 dwt ULCC

BW Nisa

, to be known as the FPSO

P-63

, is designed to have an oil production capacity of 140,000 bbl per day, gas compression of 1,000,000m3 per day and a minimum storage capacity of 1,400,000 bbl. The FPSO is scheduled to be re-delivered to its owner around the third-quarter of 2011 for deployment in the Papa Terra Field, offshore Brazil.