Golar FLNG Nearing Completion

June 1, 2017

World Energy Reports LLC.

Golar'LNG says that the FLNG Hilli Episeyo conversion is nearing completion. "The conversion of Hilli Episeyo is progressing to a tight but achievable schedule," said a company statement.

All equipment has been installed and testing and precommissioning work is underway and will continue in Singapore until departure from the yard, which is expected to be in around six weeks. 
Seawater trials, storing-up and potentially LNG bunkering in Singapore will follow redelivery from the yard. A naming ceremony has been scheduled for July 2. The mooring has now been completed and is en-route to Cameroon in advance of hook-up and initiation of commissioning and production at the end of September. Perenco are on track with their scope of works.
More than 16 million man hours have been worked by Keppel to date and approximately 4,000 workers are expected to remain on-board the vessel through to completion. 
Provided that remaining works progress according to current plans and no unforeseen issues arise, the schedule to meet the end-September start in Cameroon is tight but achievable. The FLNG Hilli Episeyo conversion remains within budget.
Meanwhile, construction of the FSRU Golar Nanook, that will support the Sergipe project, is on schedule for delivery towards year-end. In the event that builders Samsung are selected to carry out the requisite modifications, delivery will likely be pushed back by around 10 months, limiting the time available for trading prior to its mid-2019 start-up. 
A decision on this is expected shortly, as is a fully executed 25-year time charter party, both of which will facilitate the FSRU delivery installment financing process.

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