Of the $16 billion capital expenditure for the six packages in the oilfield development, $3.3 billion is earmarked for building the FPSO. Speaking to journalists yesterday, Chief Financial Officer of SHI-MCI, Mr. Jin Su Park stated that the FPSO would arrive Nigeria by 7a.m on January 23, 2017. Park stated that SHI owns 70 per cent stake in a joint venture with LADOL, which owns 30 per cent stake. He added that of the 18 modules in the Egina FPSO, six modules were fabricated in the SHI-MCI yard, which represents 30 per cent of the entire FPSO. Total awarded the FPSO contract to SHI in 2014 after the Korean firm emerged the winner, following a rigorous tendering process.

Source: The Guardian January 20, 2018 03:45 UTC