The FPSO—called Offshore Oil 117—is a joint venture of CNOOC and ConocoPhillips China Inc. It can store 2 million bbl of crude and can process more than 190,000 b/d.

The finished hull will be shipped to Singapore from Shanghai for completion of the unit"s topsides before being deployed by the end of 2008 to the Penglai 19-3 project in China"s Bohai Sea.

The second phase of Penglai 19-3 is expected to go into production at yearend 2008 and produce 180,000 boe/d of oil.

PIN.OGJ.COM