Yantai Raffles Shipyard, a fully owned subsidiary, recently completed and launched the world's first cylindrical oil storage and processing vessel for Norwegian company SEVAN MARINE AS. The project was successfully executed in Yantai, marking a major milestone in offshore energy technology. The vessel, valued at over $60 million and weighing 11,000 tons, was transported to a semi-submersible barge using five custom-designed slides before being launched. Designed to operate in diverse marine environments, this advanced ship is built to withstand challenging conditions. It features a maximum diameter of 65.15 meters, with the main body measuring 60 meters in diameter. The total height of the vessel is 45.8 meters, while the main hull stands at 27 meters. Its draft ranges from 11.2 meters when empty to 18.2 meters when loaded. The ship is equipped with a helicopter landing platform, making it versatile for various operations. It includes a refinery capable of processing 30,000 barrels of crude oil per day, a gas injection station that can compress 3.6 million cubic meters of gas daily, and a storage capacity of 300,000 barrels of crude oil. This cutting-edge vessel represents a significant advancement in offshore oil processing and storage solutions. According to recent reports, the second cylindrical oil storage and processing vessel is already under construction, signaling continued growth and innovation in this specialized sector.

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