(Yicai Global) April 22 -- Libert’s shares jumped after the modular industrial facility designer and builder signed a USD31.5 million contract with Jord Oil & Gas Systems of the Netherlands to build an floating production storage and offloading vessel for Malaysia’s Yinson Boronia Production.

Libert [SHA: 605167] ended 2.9 percent up at CNY7.78 (USD1.20) in Shanghai today. The stock had gained as much as 5.2 percent earlier in the day.

Libert will oversee the design and construction of five structure modules with different functions on the FSPO from now to September next year, the Shanghai-based company announced late yesterday. The contract was inked on April 20.

It is Libert’s first such project and will expand its business scope in industrial equipment module manufacturing and consolidate its position in module production, the company noted.

FPSOs are vessels for the offshore production, processing, storage, and transportation of oil. They are the main production method for developing offshore crude oil and natural gas fields, Libert added.

Editor: Futura Costaglione