Seatrium wins contract for deepwater new-build production unit

SEATRIUM has secured a contract to perform engineering, procurement, construction and onshore commissioning work for a deepwater new-build production unit under BP Exploration & Production, a subsidiary of multinational oil and gas company, BP.

Named Kaskida, the floating production unit (FPU) project is a greenfield development located in the Keathley Canyon area of the Gulf of Mexico about 402 km south-west of New Orleans. 

It comprises a single topside module supported by a four-column semi-submersible hull, and is supported by subsea production wells located in a water depth of approximately 6,000 feet.

In the first phase of development, the project will have a capacity to produce 80,000 barrels of crude oil per day.

Seatrium on Tuesday (Dec 24) said topsides for the Kaskida FPU will be integrated and lifted to the hull using the group’s “game-changing” Goliath twin cranes with a combined lifting capacity of 30,000 tonnes.

This method supports optimal readiness, said Seatrium, thereby reducing safety risks in the assembly of topsides and enhancing overall project efficiency.

“We are fully committed to successfully executing the project and delivering the Kaskida FPU safely and on time, marking our fourth successful FPU project for the region,” commented William Gu, executive vice president of Seatrium international energy business unit.

Gu said the group also looked forward to establishing a long-term relationship with BP.

Seatrium’s latest contract win comes after the group announced in June that it received a letter of intent for the Kaskida project. At the time, the group said that the award of the contract was subject to mutually agreed terms and conditions, management approval, and the final investment decision by BP.

Shares of Seatrium ended Monday S$0.02 or 1.1 per cent higher at S$1.93.