Dnex enters agreement with Cerulean Winds

Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, group managing director of Dnex, said Ping is currently refining its concept to integrate the FPSO with the offshore wind turbine, with field development plan approval and final investment decision targetted for later this year.

CYBERJAYA: Dagang Nextchange Bhd (Dnex), via its subsidiary Ping Petroleum UK Plc (Ping), has signed a Memorandum of Understanding with Cerulean Winds Ltd for a partnership initiative to deliver an offshore wind turbine for Avalon Development in the central North Sea.

Under the agreement, Ping and Cerulean Winds will establish a joint venture (JV) company to deploy and operate the floating wind turbine, which will power the Sevan Hummingbird floating production storage and offloading (FPSO) vessel acquired by Ping in July this year.