Complete Maritime Profile & Reviews of Kaombo-Norte

In a significant announcement, V.Ships Offshore, a leading entity under V.Group, has successfully secured a contract from Saipem to oversee ship management services for Total’s Kaombo Norte (OLYMPIA) and Kaombo Sul (ANTARCTICA) Floating Production, Storage, and Offloading (FPSO) units. These advanced vessels are currently undergoing conversion at Sembawang Shipyard in Singapore, according to a statement from the company. The Kaombo FPSOs represent one of the most ambitious undertakings in the contemporary energy sector. The Kaombo Norte FPSO is nearing the completion of its construction phase and is set to commence sea trials shortly, preparing for its journey to the Kaombo oil field located off the coast of Angola. Following this, the Kaombo Sul FPSO will enter its operational phase. V.Group stands out as the world's foremost provider of marine and offshore vessel management and support services, employing around 3,000 staff across 70 international offices, and supporting a workforce of over 40,000 in various marine and offshore capacities. With its expansive portfolio, V.Ships Offshore delivers an extensive array of offshore services, managing a myriad of vessels including platform supply vessels, dive support vessels, pipe layers, DP shuttle tankers, and various other offshore units, serving regions worldwide.

In a significant development for the offshore oil industry, Sembcorp Marine’s renowned Sembawang Shipyard has secured a pivotal contract from Saipem, who recently won a $4 billion deal to supply and operate two Floating Production Storage and Offloading units (FPSOs) for Total offshore Angola. This contract, valued at S$600 million (approximately USD $483.2 million), involves the conversion of two massive Very Large Crude Carriers (VLCCs)—the Olympia and Antarctica—previously owned by Euronav. The Olympia, built in 2008, and Antarctica, constructed in 2009, both by Hyundai Heavy Industries, will undergo a significant transformation to become turret-moored FPSOs. The Olympia is scheduled to arrive at Sembawang Shipyard in the third quarter of 2014, followed by the Antarctica in the first quarter of 2015. The comprehensive scope of work includes refurbishing the tankers, intricate construction engineering, fabricating essential components such as the flare, helideck, and upper turret, as well as integrating topside modules (to be manufactured at Saipem’s facility on Karimun Island) and lower turret elements. Post-conversion, each FPSO will boast impressive capabilities, including an oil treatment capacity of 115,000 barrels per day, a water injection capability of 200,000 barrels per day, gas compression up to 100 million standard cubic feet per day, and a storage capacity of 1.7 million barrels of oil.

In a notable transaction within the maritime industry, a vessel has been sold to an undisclosed buyer for an impressive $178 million. This significant deal underscores the continuing demand for high-value maritime assets, highlighting trends in the global shipping and logistics sector. While details about the buyer remain confidential, the sale showcases the ongoing investment in the maritime market, as investors seek to capitalize on lucrative opportunities.