New contracts for IHC CalandYard News // June 24, 2002
Cabinda Gulf Oil Company Ltd, the operator of Block O, offshore Cabinda, Angola, has signed a contract with Single Buoy Moorings (SBM), a wholly owned subsidiary of IHC Caland, for an eight year lease time charter of a Sanha Liquefied Petroleum Gas (LPG)Floating Production Storage and Offloading system (FPSO). The unit will be owned by Sonasing, the joint venture between SBM and Sonangol, the Angolan state-owned oil company.
The unit will be built in IHI's Japan shipyard and ready for delivery and further installation in early 2005. The FPSO will consist of the largest LPG hull ever built, with 135,000 m3 storage capacity for liquefied petroleum gas. The mixed LPG gas will be received from two LPG production platforms in Block O, and will separated into butane and propane onboard.
Each product stream will then be chilled for storage in the Sanha LPG FPSO atmospheric pressure storage tanks and periodically transferred to LPG export tankers for shipment and sale. The plant will have the capability to process, store and export 6,000m3 per day of incoming pressurised LPG. Sanha FPSO will be the first floating production facility built to combine all processing and export functions onboard the same unit.
Since the second half of 2001, SBM-IMODCO, another wholly owned subsidiary of IHC Caland, has been working together with ChevronTexaco on a Front End Engineering Design (FEED) study (Phase 2A) for a revamp of the process facilities on board the existingKuito FPSO which is producing under a lease and operate contract between Cabinda Gulf Oil Company Ltd, as operator of Block 14, offshore Angola and Sonasing.
The contract for Kuito Phase 2A was signed with Cabinda Gulf Oil Company Ltd. It covers a five year charter of the additional facilities required.
The third contract is for the supply of the deep water offshore buoy terminal obtained from Saibos for ExxonMobil Kizomba A field, Block 15, Angola. The buoy will be installed in 1,200m of water to export the crude oil production from the field. It willbe fabricated locally in Sonamet construction yard in Lobito, Angola, and will be delivered early 2004.
The total of the three contracts is around $550 million.