P-43 project which involves the conversion of the 270,000 dwt VLCC Stena Continent to a floating production, storage and offloading (FPSO) platform for the deepwater Barracuda oilfield offshore Brazil is worth some US$80 million. The tanker, renamed P-43, will have the capacity to produce 150,000 barrels per day of oil plus gas compression capacity of 6 million m3/d. It will be equipped with water injection capacity of 40,000 m3/d and can accommodate 100 personnel offshore. The P-43 will be spread-moored in water depth of 800 metres using a recently developed Petrobras-patented mooring system.

This contract is the latest in a series of oil and gas floating facilities projects undertaken by Jurong Shipyard for Petrobras. Having recently completed three major conversion projects - the FPSO Petrobras 37, FSO Petrobras 38 and FPU Petrobras 40, Jurong Shipyard is familiar with Petrobras' specifications and standards. When completed in the third quarter of 2002, the converted vessel will be towed to Brazil where the process topside modules' integration and commissioning works will commence.