APL Receives LOI for New Zealand STP System

APL has received a Letter of Intent from Tanker Pacific Offshore Terminals Pte Ltd for the supply of a Submerged Turret Production (STP) system for Maari.

The STP system will be installed early 2008 and shall permanently moor the Andaman Sea, a tanker that Tanker Pacific shall convert to a FPSO. Maari, the largest oilfield offshore New Zealand, is operated by OMV New Zealand Ltd (69%) with its partners Todd Petroleum Mining Company Ltd (16%), Horizon Oil International Ltd (10%, a wholly owned subsidiary of Horizon Oil Limited HZN:AU) and Cue Taranaki Pty Ltd (5%).

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