South Korea’s SK Innovation has finalised a deal with China’s CNOOC Energy Technology & Services (CenerTech) to provide a floating production, storage and offloading unit for the former's deep-water Lufeng 12-3 field in the South China Sea.
The Lufeng 12-3 FPSO technology and production service contract will commit CenerTech to providing, operating and maintaining the FPSO for 10 years, with an option to extend the agreement.
Based on the dayrate and service tenure, CenerTech said the contract is worth 4.4
