Malaysia’s MISC, via subsidiary MISC Offshore Floating Terminals, has signed a contract for the lease and operations of an FSO at Chevron’s Gulf of Thailand FSO Benchamas 2 Project.
The contract is MISC’s first foray into Thailand’s offshore oil and gas market and is valued at around $230m over 10 years, with a further five one-year extensions available to Chevron.
Yee Yang Chien, president and CEO of MISC commented: “This is a milestone achievement for MISC in winning the contract and it is significant to us, being our first collaboration with Chevron in the offshore segment. With our broad spectrum of energy related maritime solutions and services, be it in energy shipping or offshore solutions, MISC is confident of our ability to serve the various needs of the global oil and gas industry. We are honoured for the trust and opportunity given to MISC for us to work together with Chevron towards the development and sustainability of Thailand’s oil & gas sector.”
The contract includes the engineering, procurement, construction, installation, commissioning, lease and operations of the FSO Benchamas 2 Project. Operations are expected to commence by the second quarter of 2018.
