On Aug 11^th, SWS Offshore, a wholly owned subsidiary of SWS, signed the “Detailed Engineering Contract for SBM FAST4WORD FPSO” with MARIC in SWS. Mr. Wu Qiang, Deputy Secretary of CPC Committee and President of CSSC, and Mr. Chen Qi, CPC Committee member and Vice President of CSSC, together with other executives, attended the contract signing ceremony, and spoke highly of the cooperation between SWS and MARIC which is to explore international offshore engineering business together. The signing of the Engineering contract marked that the detailed engineering of FPSO project was officially launched.

On June 24^th, SWS Offshore officially signed the EPC contract of  2 million barrel FPSO hull of FAST4WARD type with the world first class FPSO operator SBM Offshore in Shanghai, in which CSTC acted as a co-seller. The successful signing of the contract means that SWS makes a mighty return to FPSO new building field after the successful construction and delivery of the 2 million barrel FPSO to ConocoPhillips ten years ago in 2007, it also gives the current sluggish offshore market a boost of motivation.

It is reported that the SBM FAST4WARD FPSO ordered this time is currently a new type of floated production storage and offloading with the largest tonnage and oil storage, and it is suitable for oil and gas exploitation in global sea area. The international oil price is at a steady bottom phase and the productive equipment are slowly recovering currently, but the offshore market environment is still severe. The final capture of the FPSO project showed that international offshore owners endowed acknowledge and trust to the strength and performance of SWS Offshore in offshore area, it is also the return to SWS for its years of persistent implementation of transformation & development and offshore development strategy with no change. It further consolidates the dominant role of SWS in both domestic and abroad offshore equipment engineering and construction field, and the offshore equipment “Made-in-China” are still renowned in the world.

It is reported that the project contract has already come into effect since July 1^st, 2017. SWS Offshore has already convened the talented managers and staff, formed the FPSO project team especially, and the yard’s project team has already held the project “Kick-off” meeting with SBM Offshore project team on July 19^th to July 20^th. Both project teams carried out all-around communications concerning main project management factors like safety, quality, plan, procurement, documentcontrol, construction, commissioning and completion during the meeting. All staff involved in the project acquired a deeper understanding to the execution plan and management requirement of the project.Both parties reached a consensus for the project goal .

“Hundreds of Ships vie to overtake one another, only will the one who strive forward to keep sailing with the seas exceed”. SWS will continue to stride forward with higher standard and all SWS Offshore people will unit as one, strictly comply with the agreed requirement of the contract, manage carefully, construct elaborately, put full efforts into construction of the FPSO, and finally deliver the turn-key project.