First Steel Cutting Ceremony Held for Lac Da Vang FSO

OceanSTAR Elite Group (“OceanSTAR” or “OSE”) has officially begun the construction of its LDV Floating Storage and Offloading (FSO) unit with a steel cutting ceremony held on February 22, 2025, at Nantong Strongwind Shipyard in Tongzhou Bay, China. This marks a significant milestone in the project’s development.

The ceremony was attended by key stakeholders, including representatives from PTSC Asia Pacific, Murphy Cuu Long Bak Oil Company, Nantong Municipal Government, Titan Wind Offshore and ABS, all of whom gathered to witness this important moment.

The LDV FSO project is designed with a storage capacity of 460,000 barrels and follows the EPCC (Engineering, Procurement, Construction, and Commissioning) model to meet the operational requirements of the LDV oil field. This innovative project integrates cutting-edge technologies, efficiently utilizes platform-associated gas, optimizes energy circulation, and reduces operational costs. The project delivery scheduled for mid-2026.

OSE expressed its gratitude to clients PTSC, Murphy Oil, and partner Titan Wind, ABS for their ongoing support. The successful launch of the LDV FSO project showcases the group’s technical capabilities and the collaborative innovation achieved across the offshore engineering industry. Upon completion, the project will play a crucial role in the large-scale development of the LDV oilfield, providing significant support to clients by reducing costs and enhancing efficiency, all while setting a green and intelligent benchmark for the industry.