Bomesc Offshore secures major FPSO project contracts

Bomesc Offshore Engineering Co., Ltd. and its wholly-owned subsidiary, Tianjin Bomesc Offshore Engineering, have entered into contracts with MODEC Inc. subsidiary Offshore Frontier Solutions Pte. Ltd., ABB PTE. LTD., and VWS Westgarth Limited. The contracts, valued at approximately $190-240m, cover the design, material procurement, and construction of topside modules, chemical skids, electrical rooms, and SRU water treatment modules for a new FPSO destined for the Guyana oil field.

The contracts are expected to significantly boost Bomesc's workload and positively impact its current and future annual performance. These agreements build upon Bomesc's long-standing cooperation with MODEC, ABB, and VWS, further solidifying its market position.

The FPSO topside module contract is scheduled for completion in June 2027, with the chemical skid by May 2027, the electrical room by September 2026, and the SRU water treatment module by January 2027. All contracts stipulate payment based on project progress and agreed milestones, with maximum delay penalties set at 10% of the total contract amount.