SBM Offshore has signed a contract with Shanghai Waigaoqiao Shipbuilding (SWS) and China Shipbuilding Trading (CSTC) for the construction of its seventh generic Fast4Ward Multi-Purpose Floater (MPF7) hull.
The MPF7 will use SBM Offshore's proprietary Fast4Ward standard hull design for floating production, storage and offloading (FPSO) vessels.
The design has a storage capacity of up to 2.3 million barrels of crude oil and can be adapted for a range of sea conditions.
The hull will also have accommodation capacity for up to 240 personnel.
According to SBM Offshore, the MPF7 is the 13th Multi-Purpose Floater hull ordered under its Fast4Ward program.
"This contract award reflects the robust market outlook and demonstrates how SBM leverages standardization and strategic partnerships for strong competitive positioning. This is the 13th MPF hull ordered to date, with each project providing lessons to further derisk the execution, with improving quality and productivity,” said Øivind Tangen, Chief Executive Officer of SBM Offshore.
"Signing this agreement for the MPF7 marks an exciting new chapter in our enduring strategic partnership with SBM Offshore, built on deep mutual trust. As this represents our seventh FPSO hull project for SBM, our team is fully committed to leveraging our premier shipbuilding capabilities and lean management principles to deliver this vessel with the highest quality, safety, and environmental standards, continuing to create long-term value for both organizations,” added Chen Gang, SWS Chairman.