Chinese yard conglomerate Cosco Shipping Shipyard (Nantong) Co. (Cosco) has returned to the sale-and-purchase market to line up a buyer for the Octabuoy semi-submersible production platform that ATP Oil & Gas UK abandoned in 2014 following the bankruptcy of its US parent.
The ATP Oil & Gas subsidiary ordered the unit—which was designed by Moss Maritime— in 2008. At the time, it was intended for the Cheviot development in the UK sector of the North Sea.
The Octabuoy was designed to store oil in its columns and boasts an estimated 20,000 tonnes of crude storage capacity. The unit is equipped to process 25,000 barrels of oil and 50 million cubic feet of gas per day and is designed to operate in water depths of approximately 500 to 9,500 feet.
At Cosco, the Octabuoy is known as hull number N262. Today, it’s described as “almost complete” and will be sold as-is. The deadline to submit an enquiry is 20 March 2020.
The deep-draft floater was designed for deployments in the Gulf of Mexico and UK North Sea. The lower hull consists of an octagonal pontoon and four columns that feature a combination of cylindrical and conical parts.
Cosco notes the Octabuoy concept allows the semisubmersible production platform to host wet or dry trees.