February 2009, Singapore: Cables International is delighted to announce the award of a major cables supply and management contract from Sembawang Shipyard in Singapore.

Sembawang Shipyard secured this multi-million dollar contract to convert a 111,567-dwt tanker into an FDPSO vessel. The state of art conversion is being carried out in Singapore on behalf of Dynamic Producer Inc. of Brazil, a subsidiary of Petroserv S.A. Company Group, a leading offshore service company based in Brazil. Upon completion, the new DP FDPSO will be operated by Dynamic Producer Inc. on long-term charter to Petrobras in the Espirito Santo, Campos, and Santos basins off Brazil

Sembawang's scope of work includes shop engineering based on the owner's supplied basic and detailed design, procurement of bulk materials, construction and outfitting of owner's supplied machinery, OFE, systems outfitting, and assistance with commissioning. All project cables being supplied by Cables International.

“We are delighted that during such volatile times, Sembawang Shipyard’s management has expressed their confidence and preference for Cables International” commented Shida Subri, Sales Director Cables International Singapore.

Major fabrication and installation work is expected to include approximately 4,700 tons of steel (involving moonpool and utility rooms for drilling operations and 4 azimuth thruster rooms), 7,000 pipe spools, cabling work, and installation of owner's supplied drilling equipment. The shipyard will also construct the new accommodation structure which will house 106 persons.

When completed, the new DP FDPSO will have a crude oil drilling and storage capacity of 300,000 bbl. The vessel is expected to be delivered to the owners in 4Q 2009.