Bluewater Wins SPM Bouy System Contract from QatarGas

Bluewater Energy Services B.V. has been awarded a contract by Qatargas Operating Company Ltd. for the delivery of two SPM buoy systems for offloading of condensate. The systems will be installed in a water depth of approximately 37 meters approximately 54 km offshore Ras Laffan refinery in the State of Qatar.

Condensate is produced both in the field and in the plant during the LNG liquefaction process. The SPM Terminal will export the field condensate to tankers of opportunity up to 320,000 dwt. Several commercial entities own the various condensate streams, and these entities have formed the Common Condensate Storage and Loading System (CCS&L) project to improve the overall efficiency of storing and exporting the condensate.

Bluewater's scope of supply for the system includes the design, procurement and fabrication of two square Turret Catenary Anchor Leg Mooring (CALM) buoys including pipeline end manifolds (PLEMs), hoses and mooring systems. Bluewater will also supply the telemytry system incuding the fibre optic cable connecting the onshore control room to both turret buoys for communication, monitoring and remote control of the systems. Delivery is expected to take place in the second quarter of 2007.

"Bluewater's Turret type CALM buoys are increasingly finding favor with clients worldwide in preference over the more traditional Turntable buoys due to design considerations that result in higher uptime, lower maintenance costs and lower operational costs over the life of the buoy," stated Hugo Heerema, President of Bluewater Energy Services B.V.

Bluewater Energy Services B.V., a member of the Bluewater group of companies, has built a technological lead specializing in lease and operation of tanker-based Production and Storage (FPSO/FSO) systems, and has become a leading provider of advanced Single Point Mooring (SPM) systems. Bluewater operates worldwide with offices in The Netherlands, United Kingdom, United States, Nigeria, Angola, South Africa, Malaysia and China.