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First steel cut in China for SBM’s Fast4Ward FPSO project

Monday, 16 Apr 2018

The first steel has been cut for SBM Offshore’s Fast4Ward FPSO at Shanghai Waigaoqiao Shipbuilding and Offshore Co. Ltd (SWS) in China, and construction of the company’s standardised FPSO newbuilding has begun.

First steel cut of the FPSO hull in Shanghai (Photo: SBM Offshore)

 Based on a generic hull form and standardised topsides, the Fast4Ward concept has been developed to offer lower development costs, faster delivery, more predictability and improved reliability. By using a standard design, SBM Offshore claims savings of up to 12 months in delivery time, a significant reduction in risk, and better quality. The Fast4Ward concept improves project economics and enhances net present value, the company says.
Bernard van Leggelo, managing director of SBM Offshore China, commented: "As our concept becomes reality, we demonstrate our commitment to this game-changing project that provides further predictability and added value for our clients. We are happy with the progress on our cost-effective solution for future FPSO projects. In an industry that more than ever needs performance in a lower-for-longer oil price environment, SBM Offshore brings a competitive edge to the table with Fast4Ward.”
SBM Offshore has delivered 34 FPSOs to date, and has over 300 years of cumulative operating experience across its leased fleet.