MISC and SBM joint venture secures FPSO extension in Malaysia

Malaysian Deepwater Floating Terminal (MDFT), a joint-venture company between Malaysia’s top shipping line MISC and SBM Holdings, has secured a charter extension from PTTEP Sabah Oil for the floating production storage and offloading (FPSO) unit Kikeh.

The extension begins in January 2022 and keeps the 2007-built FPSO in Block K, offshore Sabah, Malaysia, until 2028.

FPSO Kikeh is the first and largest deepwater FPSO in Malaysia and Asia as well. The unit can produce 120,000 bopd and has a storage capacity of 2m oil barrels.

MISC and SBM own 51% and 49% of the equity in MDFT, respectively.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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