Samsung Heavy Industries has announced that it has clinched a US$3bn deal to build an offshore oil storage facility for a Nigerian firm
Under the deal with an unnamed customer, the South Korean shipbuilder will deliver the floating production and storage offloading (FPSO) unit and start operations during the second half of 2018, the company said.
The FPSO is designed to process and store oil or natural gas, and can be maneuvered to serve different locations.
The vessel, expected to measure 330 metres in length and 34 metres in width, will be able to store up to 2.3mn barrels of crude oil, Samsung Heavy Industries stated.
