OceanSTAR Elite (OSE) has been awarded the Engineering, Procurement, Construction, and Commissioning (EPCC) contract for the Block B Floating Storage and Offloading (FSO) unit, part of a major gas field development offshore Vietnam.
Key Highlights:
- Project: Block B Floating Storage and Offloading (FSO) Unit
- Location: Offshore Vietnam (Water depth ~80 meters)
- Client: Phu Quoc Petroleum Operating Company (PQPOC)
- Project Execution: PTSC South East Asia Pte Ltd (JV between PTSC – 51%, Yinson – 49%)
- EPCC Contractor: OceanSTAR Elite (OSE)
- Storage Capacity: 350,000 barrels of condensate
- Service Life: 25 years continuous service without drydocking
- First Condensate Target: Q3 2027
- Previous Collaboration: LDV FSO project (awarded in late 2024)
The project is led by Phu Quoc Petroleum Operating Company (PQPOC), a branch of Vietnam’s National Industry – Energy Group, and executed by PTSC South East Asia Pte Ltd—a joint venture between PTSC (51%) and Yinson Production Capital Pte Ltd (49%).
The turret-moored FSO will be installed at a depth of around 80 meters and will have a storage capacity of 350,000 barrels of condensate.
It is designed for 25 years of continuous service without the need for drydocking, with first condensate production expected in Q3 2027.
This marks the second consecutive EPCC award to OSE in partnership with PTSC and Yinson, following the successful LDV FSO project secured in late 2024.
The back-to-back awards underline OSE’s reliability and capability in delivering complex offshore storage solutions on time and to high standards.
As the EPCC contractor, OSE will be responsible for the complete execution of the FSO, including engineering, procurement of equipment and materials, and construction. The project adds a significant milestone to OSE’s growing offshore portfolio, highlighting the trust of key industry players in OSE’s performance.
OSE expressed gratitude to PTSC and Yinson for their continued confidence, and looks forward to delivering another successful offshore project in the region.
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I am a Professional Civil & Structural Engineer having more than 4 years of experience in Engineering, Procurement and Construction industry. Here i sharing the latest updates of EPC Projects and Construction News.