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SEATRIUM has inked a memorandum of understanding (MOU) with energy company Shell to explore and strengthen collaboration opportunities on floating production systems (FPS).
Under the MOU, both companies will promote best practices in the design and construction of FPS by driving product standardisation and replication, said Seatrium in a press statement on Monday (Apr 15).
The offshore and marine engineering group added that both parties intend to use their experience from past projects to realise further benefits of replication, while leveraging on their engineering capabilities and technologies.
In January, Seatrium entered a contract with Shell to construct and integrate the hull, topsides and living quarters of the Sparta floating production unit (FPU). Other collaborations between the two companies include the fabrication of the Vito FPU in 2021 and Whale FPU in 2023.
Shares of Seatrium : S51 0% closed S$0.003 or 3.6 per cent lower at S$0.081 on Friday.
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