MODEC has sold a floating production storage and offloading (FPSO) unit to a consortium operating an oil field off Ghana.
The Japanese company concluded a $750m deal with the Tullow Oil-led group last month for the sale of the Kwame Nkrumah, Reuters reported citing an official from Ghana’s state oil and gas company GNPC.
The unit was converted from the 261,212-dwt Ohdoh (built 1991) by Singapore’s Sembcorp Marine in 2009/2010 at a cost of $160m.
It has been chartered to the consortium to develop the Jubilee oil field in about 1,100 metres of water since delivery.
The FPSO can process 120,000 barrels of oil per day and has a storage capacity of 1.6 million barrels.