7 Sep 2009 16:06

SOCAR completes work on floating oil storage tanker for Lukoil

BAKU. Sept 7 (Interfax) - State Oil Company of the Azerbaijani Republic (SOCAR) has completed the assembly of a floating oil storage vessel for Lukoil , SOCAR said on its web site.

The work took 10 months. The 24,000-tonne vessel is 132 meters long, 32 meters wide and 16 meters high. It has eight separate tanks each able to hold 3,000 tonnes.

"The floating oil storage facility Yury Korchagin consists of two parts that were delivered to Baku from Singapore. They were welded at SOCAR's Caspian Oil Flotilla shipyard. The upper parts of the vessel were assembled by Caspian Shipyard Company near Baku," the statement says.

The vessel will be used at the Yury Korchagin field in the Russian sector of the Caspian Sea, where tankers will load with first oil.

The vessel will be towed to Astrakhan in the near future.

It was reported earlier that Lukoil plans to begin delivering oil from the Korchagin field to the Caspian transportation system in March 2010. The first well will be drilled at the field in December and a total of 30 will be drilled by March 2010.