(EnergyAsia, December 29 2011, Thursday) — Dyna-Mac Holdings Ltd, a Singapore-based multi-disciplinary specialist provider of detailed engineering, procurement and construction services to the offshore marine, oil and gas industries, said it has secured orders worth a total sum of S$115 million, boosting its order book to a provisional value of S$190 million to date. (US$1=S$1.3).
The company said it has signed letters of intent (LOIs) with Modec, Bumi Armada Berhad and SBM Offshore, leading operators of floating production, storage and offloading vessels (FPSOs), to fabricate nine topside modules, nine piperacks and one turret by end-2013. To be completed in stages, these offshore structures are for use on FPSOs named OSX 3, D1 and Quad 204.
OSX 3 Leasing BV, a subsidiary of OSX Brasil SA and part of the EBX Group, said OSX 3 will be deployed on the Waikiki field in the Campos Basin off the coast of Brazil upon completion.
Bumi Armada’s D1 will be chartered to India’s State-owned Oil and Natural Gas Corporation Limited (ONGC) and deployed in the D1 field, 200km off the west coast of Mumbai.
Quad 204 will be deployed in the UK North Sea. Its turret design is a large internal mounted system with a bogie wheel bearing arrangement, which will moor the FPSO in harsh environmental conditions.
Weighing 10,000 tonnes, its turret is provided with arrangements for connecting 20 mooring lines and up to 28 flexible risers and umbilicals. The turret topside structures consist of five decks and a gantry accommodating the process piping, manifolding, equipment and swivel stack for handling a total fluid throughput of 320,000 b/d.
Desmond Lim Tze Jong, Dynmac’s executive chairman and CEO, said:
“We have been in talks for these projects, amongst others, for some time and we are pleased to have finally sealed these projects, which boosts our current order book to S$190 million. Our tender book remains healthy and we are confident about our growth outlook given that current market dynamics continue to encourage higher spending on exploration and production of oil.
“Our optimism is also supported by Dyna-Mac’s strong track record and reliable reputation as a FPSO / FSO topside module specialist among our customers, many with whom we have entrenched working relationships.”
Established in 1990, Dyna-Mac’s principal business is in the fabrication and assembly of topside modules for floating, production, storage and offloading vessels (FPSOs) and floating, storage and offloading vessels (FSOs) in Singapore. The company also undertakes general engineering and fabrication services for specialized structures for semi-submersibles and sub-sea products on an ad hoc basis.