OceanSTAR Elite (OSE) Secures EPCC Contract for Block B FSO, Strengthening Regional Offshore Delivery Track Record

OceanSTAR Elite (OSE) is pleased to announce that it has been awarded the Engineering, Procurement, Construction, and Commissioning (EPCC) contract for the Block B Floating Storage and Offloading (FSO) unit offshore Vietnam. The FSO is part of a broader gas field development led by Branch of Vietnam National Industry – Energy Group -Phu Quoc Petroleum Operating Company (PQPOC), with the project executed by PTSC South East Asia Pte Ltd (PTSC SEA)—a joint venture between PetroVietnam Technical Services Corporation (PTSC, 51%) and Yinson Production Capital Pte Ltd (Yinson, 49%).

The turret-moored FSO will be installed at a water depth of approximately 80 meters and will have a storage capacity of 350,000 barrels of condensate. Designed for 25 years of continuous service without drydocking, the unit is expected to achieve first condensate in Q3 2027.

This contract marks the second EPCC project awarded to OSE in collaboration with PTSC and Yinson, following the successful LDV FSO project secured in late 2024. The consecutive awards further validate OSE’s proven capability in delivering high-quality, schedule-driven floating production and storage solutions in the region.

As the EPCC contractor, OSE is responsible for the complete execution of the Block B FSO, including engineering design, equipment and material procurement and construction. The project adds to OSE’s growing offshore portfolio and reflects strong client confidence in its technical delivery.

OSE extends its appreciation to PTSC and Yinson for their continued trust and looks forward to contributing to the successful realization of the Block B FSO project.