Caribbean FLNG Project Achieves Another Milestone

Shanghai, China - December 9, 2013, - Wison Offshore & Marine Ltd. (Wison Offshore & Marine) announced today the commencement of the installation of the topsides liquefaction equipment on the Caribbean FLNG project marking another significant milestone toward completion of what will be the world’s first floating LNG liquefaction and storage vessel (FLNG) in operation.

The project, which is being undertaken by Wison Offshore & Marine under an engineering, procurement, construction, installation and commissioning (EPCIC) contract from EXMAR, comprises a non-propelled barge that will be installed off the coast of Colombia and equipped to convert 69.5 million scf/d of natural gas into LNG (+/- 500,000 tons of LNG per annum) for temporary storage and export. The topsides equipment will utilize the PRICO® technology, an innovative process developed by Black & Veatch to liquefy natural gas marking the first time this system has been applied to a floating LNG facility.

The Caribbean FLNG project began fabrication in late 2012 and is on schedule to begin operation in the second quarter of 2015. The project also achieved another key milestone in October 2013 when the three LNG storage tanks with a combined capacity of 16,100 cubic meters were installed in the barge hull, followed by the installation of the barge deck, completed in November.

 “By achieving this important milestone, the world’s first FLNG is coming yet another step closer towards commercial operations for our client Pacific Rubiales Energy in Colombia,” said Nicolas Saverys, CEO of EXMAR. “We are confident that the Caribbean FLNG project will be a commercial success because of the combination of EXMAR’s extensive LNG expertise together with the proven experience of our EPCIC contractor Wison and key subcontractor Black & Veatch.”

“The topsides processing facility developed by Black & Veatch is the heart of this FLNG system and the safe and successful installation of this equipment is critical to the delivery of the project,” said Dwayne Breaux, President of Wison Offshore & Marine. “This milestone brings us one step closer to not only delivering another world-class project to our clients, but providing a new solution to the industry for the cost-effective monetization of gas resources.”

“Achieving this milestone further demonstrates the cooperation and teamwork with our partner Wison Offshore & Marine,” said Bob Germinder, Vice President of Black & Veatch’s Oil & Gas business. “Together we are able to bring value to the market with swift, reliable and efficient liquefaction of gas on a floating structure to monetize stranded gas fields around the world. Today is another successful step on our journey with Wison Offshore & Marine to make offshore LNG production a commercial reality.”

Caribbean FLNG Topside Installation