Daewoo Secures FPSO Contract

25 August 2010 (Last Updated August 25th, 2010 18:30)

Daewoo Shipbuilding & Marine Engineering (DSME) has signed a $1.81bn contract to build an offshore facility for Total in France. The South Korean shipbuilding company said the facility will have a production capacity of 160,000 barrels of crude oil a day with a storage capacity of up

Daewoo Shipbuilding & Marine Engineering (DSME) has signed a $1.81bn contract to build an offshore facility for Total in France.

The South Korean shipbuilding company said the facility will have a production capacity of 160,000 barrels of crude oil a day with a storage capacity of up to 1.8 million barrels.

The vessel will be delivered by May 2013, according to tradingmarkets.com.

Daewoo will accelerate the development of the Clov project in Angola, which includes a four-field cluster in the north-west sector of the country’s offshore block 17.