(Yicai Global) June 16 -- Shares in Bomesc Offshore Engineering surged by the exchange-imposed limit today after the Chinese supplier of marine engineering equipment said that it has secured a USD152 million contract to carry out topsides integration on a floating oil production and storage vessel owned by US oil major ExxonMobil.

Bomesc’s share price [SHA:603727] closed up 10 percent at CNY12.19 (USD1.71).

Bomesc will design and build the topsides which will then be integrated with the hull of one of ExxonMobil’s Floating Production, Storage and Offloading vessels that is stationed off the coast of Guyana, the Tianjin-based company said yesterday, citing the deal penned with Japan's Offshore Frontier Solutions, the project's engineering, procurement and construction contractor.

The work will be done at Bomesc's shipyard in Tianjin and should be completed by August 2025, it said. Once ready, the vessel will be delivered to the Texas-based company for use in its offshore oil exploration in the Stabroek Block, it said.

FPSO vessels are moored in fixed positions out at sea for long periods. They not only provide accommodation for staff but are also involved in the oil production processes, such as separating oil and gas, cleaning water contaminated with oil, generating electricity and thermal energy as well as storing and transporting crude oil.

Bomesc delivered the first FPSO vessel to be completely assembled at its Tianjin base, the Sepetiba which can store two million barrels of oil, to its client Dutch offshore oil industry systems supplier SBM Offshore on June 12, China News reported earlier this week.

Editor: Kim Taylor