Greater China

FPSO decision annoys Koreans

Seoul: There is some consternation among shipbuilding circles in Korea that a subsidiary of state-owned Korea National Oil Corporation has opted to order its latest FPSO not on home soil but in China. Dana Petroleum chose Cosco Shipyard to build the $400m circular FPSO with storage capacity of 400,000 barrels. China was chosen as Korea does not have any yards with a track record of building circular FPSOs.[22/10/12]

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