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SWS Made a Strong Return to FPSO New-building Field


On Aug 11th,
SWS Offshore, a wholly owned subsidiary of SWS, signed the ¡°Detailed Engineering
Contract for SBM FAST4WORD FPSO¡± with MARIC in SWS. Mr. Wu Qiang, Deputy
Secretary of CPC Committee and President of CSSC, and Mr. Chen Qi, CPC Committee
member and Vice President of CSSC, together with other executives, attended the
contract signing ceremony, and spoke highly of the cooperation between SWS and
MARIC which is to explore international offshore engineering business together.
The signing of the Engineering contract marked that the detailed engineering of
FPSO project was officially launched.




On June
24
th, SWS Offshore officially signed the EPC contract of  2 million barrel FPSO hull of FAST4WARD type with
the world first class FPSO operator SBM Offshore in Shanghai, in which CSTC
acted as a co-seller. The successful signing of the contract means that SWS makes
a mighty return to FPSO new building field after the successful construction
and delivery of the 2 million barrel FPSO to ConocoPhillips ten years ago in
2007, it also gives the current sluggish offshore market a boost of motivation.



It is
reported that the SBM FAST4WARD FPSO ordered this time is currently a new type
of floated production storage and offloading with the largest tonnage and oil
storage, and it is suitable for oil and gas exploitation in global sea area.
The international oil price is at a steady bottom phase and the productive equipment
are slowly recovering currently, but the offshore market environment is still
severe. The final capture of the FPSO project showed that international
offshore owners endowed acknowledge and trust to the strength and performance
of SWS Offshore in offshore area, it is also the return to SWS for its years of
persistent implementation of transformation & development and offshore development
strategy with no change. It further consolidates the dominant role of SWS in
both domestic and abroad offshore equipment engineering and construction field,
and the offshore equipment ¡°Made-in-China¡± are still renowned in the world.



It is
reported that the project contract has already come into effect since July 1
st,
2017. SWS Offshore has already convened the talented managers and staff, formed
the FPSO project team especially, and the yard¡¯s project team has already held
the project ¡°Kick-off¡± meeting with SBM Offshore project team on July 19
th to July 20th. Both project teams carried out all-around
communications concerning main project management factors like safety, quality,
plan, procurement, documentcontrol, construction, commissioning and completion during
the meeting. All staff involved in the project acquired a deeper understanding
to the execution plan and management requirement of the project.Both parties
reached a consensus for the project goal .


ineering and construction field,
and the offshore equipment ¡°Made-in-China¡± are still renowned in the world.




¡°Hundreds of Ships
vie to overtake one another, only will the one who strive forward to keep sailing
with the seas exceed¡±. SWS will continue to stride forward with higher standard
and all SWS Offshore people will unit as one, strictly comply with the agreed
requirement of the contract, manage carefully, construct elaborately, put full
efforts into construction of the FPSO, and finally deliver the turn-key
project.


eper understanding
to the execution plan and management requirement of the project.Both parties
reached a consensus for the project goal .
ineering and construction field,
and the offshore equipment ¡°Made-in-China¡± are still renowned in the world.

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