Posh Terasea Wins Project for Services at World's Largest Offshore Facility
PACC Offshore Services Holdings Ltd. ("POSH" Group) has revealed that its offshore service contractor joint venture, POSH Terasea, has secured a project to provide towage and positioning services for the Shell Prelude floating liquefied natural gas (FLNG) platform, the world's largest offshore facility ever constructed.
POSH Terasea won the project after a competitive bid process. As part of the project, POSH Terasea will tow the Shell Prelude FLNG over 3,000 nautical miles from Samsung Shipyard in Geoje, South Korea, where it is being built, to Australia, where it will be deployed. Once at its destination, the company will position the FLNG before it begins production at the Prelude gas field in the Browse LNG Basin, 200km off the northwest coast of Australia. POSH Terasea will be in charge of the overall towage project management.
Eric Ng, President and Director of POSH Terasea, said, "Towing and positioning a Floating Facility that is about four times the size of a football field from Korea to a gas field in Australia will be a massive and complex undertaking. We are excited to be entrusted to play such a critical role in this milestone development and look forward to successfully delivering on yet another project."
For this project, POSH Terasea will deploy five vessels: four Large Anchor Handling and Towage Vessels (AHT), the Terasea Osprey, Terasea Falcon, Terasea Hawk, and Terasea Eagle, along with one 16,000 BHP Anchor Handling Tug Supply vessel (AHTS), the POSH Champion.
The Shell Prelude FLNG facility is 488 meters long and 74 meters wide, with a fully loaded displacement capacity of approximately 600,000 tons. The facility itself contains around 260,000 tonnes of steel, approximately five times the amount used to build the Sydney Harbour Bridge.
Captain Gerald Seow, CEO of POSH, stated, "We are proud to be part of what will be a landmark project for the entire oil and gas industry. This contract win is a testament to POSH Terasea's strong track record as the world's leading offshore transport and installation services provider. This also underscores POSH's differentiated business strategy to diversify across the offshore services sector, especially in areas with strong prospects like deepwater transport and installation."
POSH is listed on the Singapore Exchange and is the largest Asia-based international operator of offshore support vessels, ranking among the top five globally. The company offers a diversified fleet providing marine support services to the offshore oil and gas industry. The four key business divisions of POSH are: Offshore Supply Vessels (OSV), Offshore Accommodation (OA), Transport & Installation (T&I), and Harbour Services & Emergency Response (HSER).
POSH Terasea, a specialist offshore marine service contractor, focuses on niche services such as towage and mooring installation of Floating Production Storage and Offloading (FPSO) vessels, Floating Production Systems, semi-submersibles, and other offshore installations. The joint venture between POSH and Terasea Pte Ltd is supported by well-established parent companies in the Kuok Group of Companies, Ezion Holdings, and Seabridge Marine.
POSH Terasea operates the largest deepwater anchor handling tug supply (AHTS) vessels fleet globally, comprising tugs of 150-200 ton bollard pull each. The company is a leading operator in the deepwater transport & installation (T&I) space and has successfully completed over 200 ocean towage projects in the past 10 years.
This article was originally published on Marine & Industrial Report newspaper Vol 38 No.1 Issue last February 29,2016.
