Vinashin Launches Vietnam's Biggest Floating Storage, Offloading Unit

Nam Trieu Ship Industry Corporation (NASICO) under the Vietnam Shipbuilding Industry Corporation (Vinashin) on January 14 launched Vietnam's biggest floating storage and offloading unit FSO-5.

 

The FSO was built at cost of US$163.3 million on demand from Petroleum Technical Services Joint Stock Corporation (PTSC), an affiliate of the state-owned oil monopoly PetroVietnam group.

 

The unit; with 258.14 meters in length, 46.4 meters in width, 24 meters in height, and tonnage of 150,000 tons; is capable of receiving neutralized oil via undersea pipelines from central processing platform and offshore oilrigs at oilfields of the Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro); processing wet crude oil into exports; treating wastewater; storing and offloading processed oil for clients; and collecting and reusing separated gas.

 

PTSC plans to widen its services distribution network in regional countries as well as invest in at least 10 more service vessels, bringing its total number of vessels to 25 between 2009 and 2010.

 

It, moreover, will prioritize development of service port system at strategic locations relating to key oil and gas projects such as Long Son of southern Ba Ria-Vung Tau province, Hon La of central Quang Binh province, and Nghi Son of central Thanh Hoa province. (Vietnam Economic Times)