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,...
Three months after winning the $4 billion project to supply and operate a pair of FPSOs offshore Angola for Total, Saipem has selected Sembcorp Marine’s Sembawang Shipyard to undertake the S$600 million (USD $483.2 million) project to convert two ~315,000 ton deadweight Very Large Crude Carriers (VLCCs) into two turret-moored FPSOs.
The Olympia and Antarctica are currently owned by Euronav and were built in 2008 and 2009, respectively, by Hyundai Heavy Industries. Olympia is expected to enter Sembawang Shipyard in third quarter 2014 while Antarctica, will arrive in 1Q 2015.
The scope of work includes refurbishment of the tankers, construction engineering, the fabrication of flare, helideck, upper turret and access structure, integration of the topsides modules (which will be fabricated at Saipem’s Karimun Island Yard) and lower turret components, and pre-commissioning of the FPSOs.
The two converted FPSOs will each have an oil treating capacity of 115,000 barrels per day, a water injection capacity of 200,000 barrels per day, a 100 million scfd gas compression capacity and a storage capacity of 1.7 million barrels of oil.
The first FPSO unit will be operational by the first quarter of 2017 and the second unit by the second quarter of the same year, according to Saipem.
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