The FPSO Smart 1 built in the Jurong Shipyards in Singapore, is based upon a converted oil tanker and is built to a flexible modular design that allows functions to be added offshore, enabling AKFP to start building an FPSO before it has secured a lease contract.

The FPSO Smart 1 has been chartered by Reliance of India, the charter including options, will have a duration of five to ten years. The client has an option to buy the FPSO at different stages during the contract period. The FPSO Aker Smart 1 will operate offshore India in 1100 to 1400 meters water depth.

FPSO Aker Smart 1 has a daily production capacity of 60,000 barrels of oil, while substantial gas treatment, injection and export facilities will be installed with 3 million cum (or 100 million cuft) per day compression capacity. To meet field specific needs, Aker Floating Production expects to invest USD 300 million in addition to the base cost of the generic FPSO Aker Smart 1.