19-05-08 Larsen Oil & Gas and PetroProd I signed a memorandum of understanding with an undisclosed operator for a five-year lease and operation of floating production, storage and offloading vessel (FPSO), currently undergoing conversion work at Jurong Shipyard in Singapore.
The FPSO is scheduled to be completed to client specification by the first quarter of next year.

Anticipated first oil is scheduled late in the first half or early in the second half of 2009.
A spokesman for Larsen said, "The parties continue exclusive negotiations with the aim to reach final agreement by June 30, 2008."