STX Offshore & Shipbuilding announced early this morning that it has been awarded a turn-key contract to build a Floating Storage & Offloading facility worth around KRW 500bn ($440m) from a North African oil company.
The large FSO unit, 324 meters in length and 51m in width, has a storage capacity of 1.5 million barrels of crude oil, equating to around 70% of Korea's daily oil consumption.
STX O&S said under the contract it will conduct subsea pipeline system design, manufacturing, installation and commissioning as well as building the FSO.
Earlier this year, the Korean shipbuilding and offshore engineering stalwart also built and delivered a 2.2m barrel FSO (ordered in 2008) for a Middle Eastern oil company.
An STX official said, "Beginning with subsea pipe-laying vessel, STX has been praised as the world best drillship builder. With the latest FSO orders STX will enter further into the offshore plant market covering FLNG and FPSO."