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Asset Under Development | 9 Months Ended
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Sep. 30, 2016
Research and Development [Abstract] |
Asset Under Development | ASSET UNDER DEVELOPMENT
(in thousands of $) | September 30, 2016 |  | December 31, 2015 |
Purchase price installments (including other shipyard costs) | 636,530 |  | 495,518 |
Interest costs capitalized (note 2) | 43,370 |  | 4,187 |
Other costs capitalized | 14,841 |  | 1,317 |
| 694,741 |  | 501,022 |
In May 2014, we entered into agreements for the conversion of the Hilli to a FLNG vessel. The primary contract was entered into with Keppel. Following the payment of the initial milestone installment, these agreements became fully effective on July 2, 2014. The Hilli was delivered to Keppel in Singapore in September 2014 for the commencement of her conversion. We expect the conversion will require in total 31 months to complete, followed by mobilization to a project for full commissioning. The total estimated conversion, vessel and site commissioning cost for the Hilli is approximately $1.3 billion. As at September 30, 2016, the estimated timing of the outstanding payments in connection with the Hilli conversion are as follows:
(in thousands of $) | September 30, 2016
Payable within 3 months to December 31, 2016 | 22,730
Payable within 12 months to December 31, 2017 | 441,695
Payable within 12 months to December 31, 2018 | 23,121
| 487,546

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