(Yicai) Oct. 11 -- Chinese supplier of marine engineering equipment Bomesc Offshore Engineering has secured a USD140 million subcontract to build parts of the equipment modules of a floating production storage and offloading ship.

Bomesc will design and build facilities for the FPSO ship, including chemical injection units, electrical rooms, and upper modules, the Tianjin-based company announced yesterday, citing the deal it inked with Japan’s Offshore Frontier Solutions, the project’s general contractor, and Singapore’s ABB. All modules are scheduled to be completed in March 2025.

This is the third offshore oil and gas equipment construction agreement of over USD100 million that Bomesc signed since June, after the USD152 million one from Exxon Mobil and the USD220 million one from Italy’s Saipem. Bomesc has worked with Offshore Frontier Solutions on a dozen FPSO construction projects.

The FPSO ship will be deployed in the Campos Basin offshore Brazil, Bomesc added, without mentioning the names of the owner and end-users of the project.

FPSO vessels are moored in fixed positions out at sea for long periods. They not only provide accommodation for staff but are also involved in the oil production processes, such as separating oil and gas, cleaning water contaminated with oil, generating electricity and thermal energy, and storing and transporting crude oil.

Bomesc’s shares [SHA: 603727] were trading down 3 percent at CNY13.53 (USD1.85) as of today’s lunch break in Shanghai.

Editor: Futura Costaglione