China-based Titan Wind Energy has secured a USD45 million deal to build a floating storage and offloading (FSO) vessel for Singapore-based contractor OceanSTAR Marine and Offshore Investment. The construction, which will be handled by Nantong Changfeng New Energy Equipment Technology, a subsidiary of Titan Wind, is expected to take 22 months.
Titan Wind’s subsidiary will oversee multiple aspects of the project, including design, hull construction, material and partial equipment procurement, installation, and pre-commissioning services. Meanwhile, the specific location for the FSO’s deployment has not been disclosed, it is anticipated to support offshore oil and gas extraction activities in Southeast Asia.