For floating production, storage and offloading vessel contracts, Sembawang Shipyard and SMOE bid jointly, fabricating topside structures and integrating them before installing them on a hull, which is free-issued by the client.

SMOE is a fellow subsidiary of government-linked SembCorp Industries.

The duo have combined three times in this fashion, whereby Sembawang provides integration and installation expertise and SMOE the topsides.

The pair share the profits, or the losses, on FPSO projects.

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