On June 29, Shanghai Waigaoqiao Shipbuilding Co., Ltd., a subsidiary of China State Shipbuilding Corporation Limited, jointly with China Shipbuilding Trading Co., Ltd., officially signed the construction contract for the seventh Fast4Ward® universal floating production storage and offloading vessel (FPSO) MPF7 with SBM OFFSHORE.
The vessel adopts SBM’s proprietary Fast4Ward universal hull design. As a standardized FPSO hull solution, its crude oil storage capacity can reach up to 2.3 million barrels, capable of meeting operational requirements under various global sea conditions.
MPF7 continues the highly optimized mature design of the preceding vessel series, with accommodation quarters capable of housing 240 people. The entire vessel design strictly follows international offshore engineering standards, with customized upgrades in environmental protection, safety, and crew comfort.
SBM Offshore CEO Øivind Tangen stated: “The signing of this construction contract not only demonstrates the strong development prospects of the industry but also profoundly illustrates how SBM builds its own strong core competitive advantages by advancing standardization strategies and deepening strategic partnerships. This is the 13th MPF hull ordered to date. The experience accumulated from each project will further reduce subsequent execution risks, achieving continuous improvement in quality and efficiency.”
Waigaoqiao Shipbuilding Chairman Chen Gang stated: “The signing of the MPF7 construction contract writes a new chapter in our long-term strategic cooperation with SBM Offshore based on deep mutual trust. As the seventh FPSO hull project jointly built by both parties, the Waigaoqiao Shipbuilding team will fully leverage its construction capabilities, implement lean management concepts, ensure the perfect delivery of this vessel with the highest quality, safest, and most environmentally friendly standards, and continuously create long-term value for deepening cooperation and mutual benefit between both sides.”
Waigaoqiao Shipbuilding holds a leading record among Chinese shipyards in FPSO hull construction and delivery. The MPF7 signed this time is the 10th FPSO hull undertaken by Waigaoqiao Shipbuilding, with its product spectrum fully covering mainstream FPSO vessel types from the 1 million barrel class to the 2 million barrel class.
It is understood that SBM Offshore is a leading enterprise in the global deepwater offshore infrastructure field, with business covering the full lifecycle services of design, construction, installation, and operation of floating production facilities.
SBM’s Fast4Ward type FPSO includes a universal newbuild hull and a series of topside modules and mooring system solutions, which can effectively shorten construction cycles and reduce costs, fully meeting owners’ localization requirements. Compared to traditional FPSOs, this hull has wide applicability and strong adaptability, capable of meeting a broad range of marine environmental conditions such as the Gulf of Mexico, West Africa, and Brazil. Its commissioning cycle can be shortened by 6 to 12 months, effectively reducing construction cycles and costs.
Including the latest order, all 13 Fast4Ward type FPSO hulls cumulatively ordered by SBM are built by Chinese shipbuilding enterprises. Among them, SBM initially placed the order for the first Fast4Ward type FPSO at Waigaoqiao Offshore in 2017, setting a record for the largest single order amount since Waigaoqiao Offshore started construction in 2007.
Currently, SBM has ordered 7 Fast4Ward type FPSO hulls at Waigaoqiao Shipbuilding, 4 at China Merchants Industry, and 2 at COSCO Shipping Heavy Industry. Among the 13 hulls ordered, Waigaoqiao Shipbuilding has delivered 5, and China Merchants Industry has delivered 3.
Earlier this year, SBM awarded the orders for the 11th and 12th Fast4Ward standardized hulls to COSCO Shipping Heavy Industry. These two hulls will be used respectively for Petrobras’ SEAP I and SEAP II deepwater oil and gas development projects in the future, further consolidating the leading position of Chinese shipbuilding enterprises in the global FPSO construction field.
