Khamis Juma Buamim: We are committed to developing the yard's capabilities in line with current requirements and trends in the global maritime industry
Dubai Drydocks World announced that it has been awarded a conversion contract for the floating production, storage and offloading (FPSO) vessel, estimated at $13 million (Dh47.7 million), by BW Offshore, one of the world's leading FPSO contractors.
The vessel, BW Carmen, which has been renamed BW Athena, was built in 1994 and converted to an FPSO in 1999.
The vessel arrived at the yard recently.
Under the agreement with BW Offshore, Drydocks World's scope of work includes lengthening of the vessel and fabrication and installation of a new section for the Submerged Turret Production (STP) system.
All associated piping and electrical modification, module and crane installation and topside repair will be carried out at the Dubai shipyard.
Khamis Juma Bu Amim, Chairman Drydocks and Maritime World, said: "We have made a name for ourselves in the vessel conversion market and have supported the oil and gas industry with a diverse range of projects, primarily FPSO and FSOs of varying scope and scale suited to industry needs.
Project management
"The contract is a testament to our growing technical capabilities and effective project management skills," he said.
"We are certain that our growing portfolio of projects from world leading industry players will enhance our clout in this vital sector."
Bu Amim added: "Drydocks World is positive about the future. We are armed with a solid business strategy that takes into account changing trends in the maritime industry."
Currently, two projects, including conversion of Betatank II to Firenze FPSO and LNG Golar Frost into FSRU Toscana are underway at the Dubai yard.
A FPSO unit is a floating vessel used by the offshore industry for the processing and storage of oil and gas.
A FPSO vessel is designed to receive oil or gas produced from nearby platforms or subsea template, process it, and store it until oil or gas can be offloaded onto a tanker or transported through a pipeline.
FPSOs are preferred in frontier offshore regions as they are easy to install, and do not require a local pipeline infrastructure to export oil and gas.
FPSOs can be a conversion of an oil tanker or can be a vessel built specially for the application. A vessel used to store oil only is referred to as a floating storage and offloading vessel (FSO).
Drydocks World is one of the most prominent names in the maritime industry.
In 25 years, Drydocks World has established itself as a leading and fast-growing international player in ship repair, shipbuilding, rig building, FPSO conversion, offshore fabrication and fleet operations.
