abce certificate
Friday, 21 November, 2008, 22:10 GMT | more >>

MPF to seek Oslo listing



By Upstream staff 

Norway's floater specialist MPF Corporation said it had applied to list its shares on the Oslo Stock Exchange.

MPF is pioneering the construction of the world's first floating drilling, production, storage and offloading (FDPSO) vessel, the MPF 1000, at a cost of $640 million.

Engineering, procurement and construction services for the vessel, designed for ultra-deep environments, is to be provided by Dragados Offshore. The hull is to be built by the Cosco Dalian yard in China. Aker Kvaerner will supply drilling equipment, MPF said.

The company said it raised $275 million in a private placement of shares in May and another $150 million in a bond issue in September. It said it planned to fund the remaining amount through bank loans. It said production capacity on the vessel would require a further investment at a later stage.

The FDPSO is expected to be delivered in December 2008 for deployment in the first quarter of 2009, MPF said.


Wednesday, 01 November, 2006, 20:02 GMT  | last updated: Thursday, 02 November, 2006, 11:28 GMT

e-mail this article to a colleague


to email:  from:
comments: