S&P Global to Buy IHS Markit for $44 Billion in 2020’s Biggest Merger
By Noor Zainab Hussain (Reuters) – Data giant S&P Global Inc has agreed to buy IHS Markit Ltd in a deal worth $44 billion that will be 2020’s biggest merger,...
Offshore service contractor POSH Terasea has been selected to provide towage and positioning services for the Prelude FLNG, the world’s largest offshore facility ever constructed.
POSH Terasea will use five vessels, including four large anchor handling and towage vessels and one 16,000 BHP anchor handling tug supply vessel, to tow the world’s first floating liquefied natural gas facility over 3,000 nautical miles from Samsung Shipyard in Geoje, South Korea, to Australia, where it will be deployed.
POSH Terasea will be responsible for the overall towage project management. It will deploy Terasea Osprey, Terasea Falcon, Terasea Hawk, Terasea Eagle, and POSH Champion vessels for the towing project. The company, which was awarded the project after a competitive bidding process, will also position the Prelude FLNG before it begins production at the Prelude gas field in the Browse LNG Basin, 200 kilometer (km) off the northwest coast of Australia.
The Prelude FLNG is being built by the Technip / Samsung Consortium in South Korea for a joint venture between Royal Dutch Shell, KOGAS, and Inpex. The FLNG facility is 488 meters long and 74 meters wide and has a fully-loaded displacement capacity of about 600,000 tons.
The construction phase of the Prelude FLNG project is well under way. It has around 260,000 tonnes of steel in the facility alone, around five times the amount of steel used to build the Sydney Harbour Bridge. Once operational, the facility will produce at least 5.3 million tonnes (mtpa) per annum of liquids: 3.6 mtpa of LNG, 1.3 mtpa of condensate (equivalent to 35,000 bbl/d) and 0.4 mtpa of liquefied petroleum gas (LPG).
“Towing and positioning a Floating Facilities that is about four times the size of a football field from Korea to a gas field in Australia will be a massive and complex undertaking. We are excited to be entrusted to play such a critical role in this milestone development and look forward to successfully delivering on yet another project,” POSH Terasea President and Director Eric Ng said in a statement.
POSH Terasea is a joint venture between PACC Offshore Services Holdings and Terasea Pte. Ltd., which is in turn a joint venture between Seabridge Marine Services and Ezion Holdings.
Writing by Nadeem (c) gCaptain
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