K Line makes FPSO debut

fpso

Kawasaki Kisen Kaisha (K Line) has entered into an agreement with three companies to participate in the owning and chartering business for a oil and gas floating production, storage and offloading (FPSO) unit off the coast of Ghana.

Together with Sumitomo Corporation, JGC Corporation and Development Bank of Japan, the shipping company agreed in principle on the FPSO, named John Agyekum Kufuor, which is run by the Malaysian offshore production services provider Yinson Holdings Berhad and its group of companies.

With a crude oil production capacity of 58,000 barrels/day and a gas production capacity of 210 million square feet/day, the FPSO can hold up to 1.4 million barrels of crude.

After commencement of the definitive agreement, the four partners will acquire, through a joint venture, 26% of the shares of Yinson Production (West Africa).

 

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