PTSC to supply floating storage for Sao Vàng-Đại Nguyệt gas project

PTSC to supply floating storage for Sao Vàng-Đại Nguyệt gas project

A PetroVietnam project. - VNA/VNS Photo

HÀ NỘI — PetroVietnam Technical Services Corporation (PTSC) has won a contract to supply a floating storage and offloading (FSO) system to a project being developed in the Sao Vàng-Đại Nguyệt gas fields by Japanese firm Idemisu Kosan.

The Malaysia-Vietnam Offshore Terminal Ltd (MVOT) is a joint venture between PetroVietnam Technical Services Corp and Malaysia’s MIBS Bhd. It has won a US$ 一 七 六 million contract to provide equipment for Idemitsu Kosan to develop the Sao Vàng-Đại Nguyệt gas project.PTSC was picked as a sub-contractor to provide equipment for the projects.The FSO supply and rental contract will last seven years with a total value of $ 一 七 六 million.PTSC said the FSO would be completed and ready to receive the first condensate flows in July  二0 二0.After being transformed from a tanker, the FSO has a capacity to store  七00,000 barrels of condensate, double Idemitsu Kosan’s minimum storage requirement of  三 五0,000 barrels.The FSO is designed to house  五 五 technical and operational personnel and a helicopter pad with the latest UK CAP  四 三 七 standard, capable of receiving Airbus H- 二 二 五 or equivalent.The contract could be extended for another eight years.PTSC has sent a team of experts to Malaysia to carry out all stages of design, procurement, manufacturing, installation and co妹妹ission.At the operational stage, PTSC expects to be responsible for  一00 per cent of the workload.PTSC General Director Lê Mạnh Cường said along with the FSO, his company would also be part of the entire development project of the Sao Vàng-Đại Nguyệt fields.The Sao Vàng-Đại Nguyệt gas fields are located in Blocks 0 五- 一b and 0 五- 一c, about  三 五0km southeast of Việt Nam’s coast. Idemitsu Kosan is the operator of the offshore development with an ownership of  四 三.0 八 per cent.Estimated output of the gas fields is about  一. 五 billion cubic metres of gas per year and  二. 八 million barrels of crude oil and condensate.Late in August this year, PetroVietnam signed a gas sale-purchase agreement with the developers of the field. — VNS