Cosco Shipyard Group began construction of semi submersible production platform N262 Octabuoy, which is destined for ATP Oil & Gas' Cheviot project in the UK sector of the North Sea.

The steel cutting ceremony for N262 Octabuoy was recently held at Cosco Nantong Shipyard. The floating production unit will be built based on Moss Maritime's Octabuoy design.

Cosco is commissioned to construct the hull of the FPU. The hull construction is expected to involve about 20,000 tonnes of steel structures and scheduled to be complete within the first half of 2010.

The Octabuoy is a semi submersible production platform, but it is also able to accommodate complete drilling facilities. The Octabuoy SDM platform can be fully equipped quayside. On the Octabuoy Classic the deck can be completed quay-side and installed by float over or lift-on inshore or offshore, eliminating expensive and time consuming offshore installation and commissioning.