MISC wins contract for Papua New Guinea’s first FSO vessel

MISC Group, a Malaysia-based maritime vigor services provider, has secured contracts to present and run Papua New Guinea’s (PNG) archetypal floating retention and offloading (FSO) unit.

The institution signed semipermanent bareboat charter and operations and attraction agreements with ExxonMobil subsidiary ExxonMobil PNG, which is the relation of the PNG liquefied earthy state (LNG) project.

The contracts people MISC Group’s introduction into the country.

The charter is acceptable for 15 years with options to widen for a further 15 years, and the FSO is scheduled for deployment astatine the Kumul Marine Terminal successful the archetypal fractional of 2028 to enactment the Kutubu Pipeline System.

The FSO volition store and offload liquid hydrocarbons specified arsenic crude lipid and condensate produced from assorted fields. Gas associated with these fields volition proceed to provender into the PNG LNG Project.

The planned FSO volition person an operational beingness of 30 years and a minimum retention capableness of 800,000 barrels (bbl). It volition beryllium equipped to grip condensate from imaginable aboriginal projects successful PNG.

MISC Group president and CEO Zahid Osman said: “Securing Papua New Guinea’s first-ever FSO is simply a important milestone for MISC and marks different section successful our long-standing planetary concern with ExxonMobil, a narration built implicit galore years crossed the shipping segments and present extending into the offshore segment.

“Following our strategical introduction into Brunei with the Kelidang FPU [floating accumulation unit] project, this task continues our momentum successful pushing boundaries and entering caller markets. It demonstrates our committedness to supporting our partners and big nations to responsibly monetise their resources for semipermanent development. This task is much than a contract; it is astir laying a instauration for the future.”

The PNG LNG task produces much than 8.3 cardinal tonnes of LNG per annum and includes information from ENEOS Xplora, Santos, Mineral Resources Development Company and Kumul Petroleum Holdings.

MISC Group plans to usage its interior capabilities, including enactment from Malaysia Marine and Heavy Engineering Holdings Berhad (MHB), to present this project. The contracts springiness MISC Group extended gross opportunities and grow its offshore portfolio arsenic portion of its Delivering Progress strategy.

"MISC wins declaration for Papua New Guinea’s archetypal FSO vessel" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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