Dyna-Mac Bags $71M Contract to Build Topsides, Flare Tower for Catcher FPSO
Singapore's Dyna-Mac Holdings Ltd. disclosed Monday that the company has secured a contract with a preliminary sum close to $71.2 million (SGD 89 million) for the construction of 10 units of FPSO topsides modules and one unit of flare tower from BW Offshore, a leading global provider of floating production services to the oil and gas industry.
Dyna-Mac’s contract includes preparation of shop drawings and the fabrication of 10 units of topsides modules for an FPSO (floating production, storage and offloading) vessel that will operate at Premier Oil’s Catcher oil fields in the UK sector of the North Sea. The topsides FPSO modules are scheduled to be delivered progressively to the owner within the first quarter 2016.
The Catcher FPSO will be capable of processing up to 60,000 barrels of crude per day and a storage capacity of 650,000 barrels with first oil targeted for mid-2017.
Desmond Lim, CEO of Dyna-Mac said “We are pleased to be entrusted once again by our customer BW Offshore to be part of their significant FPSO Catcher project. We are indeed privileged to have the opportunity to continue to contribute to their expansion of the FPSO fleet.
This latest contract bears testament to our expertise and established track record, having delivered 233 topsides modules to-date. We are committed to build on our partnership with BW Offshore and to meet their stringent standards of quality, safety and reliability.”
Barring unforeseen circumstances, the contract is expected to contribute positively to the earnings, net tangible assets and earnings per share of Dyna-Mac for the financial year ending December 2015.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 1 Offshore Rigs
- Independents Go Big in North Sea (Jan 03)
- European Oil Producers' Weak Hedging Shows Bet on Price Rebound (Jul 31)
- Mexico Oil Privatization Pays Off With Billion-Barrel Find (Jul 12)
Company: BW Offshore more info
- Norway's $24B Fund Seeing End To Losses In Oil Services (Aug 17)
- Keppel Wins $89M Deals for Work on 3 Floating Facilities, 1 Pipelay Vessel (Jul 08)
- BW Offshore Secures 3 Year Contract Extension for FPSO BW Pioneer (Apr 26)
Company: Dyna-Mac Holdings Ltd. more info
- Dyna-Mac Bags $8.5M Fabrication Contract from Singapore-based Firm (Aug 27)
- Dyna-Mac Secures $48M Topside Module Fabrication Contract for East Hub FPSO (Feb 10)
- Dyna-Mac Bags $71M Contract to Build Topsides, Flare Tower for Catcher FPSO (Jan 06)