June 25th, 20190Vitol, the world’s largest independent oil trader, is building a small oil refinery at its storage terminal in Malaysia to supply low-sulphur fuel for ships. The facility will be able to process 30,000 barrels per day and is located just opposite the Port of Tanjung Pelepas, overlooking western Singapore. The project is expected...
June 25th, 20190Malaysian FPSO operator Yinson Holdings has secured another extension to the bareboat charter interim contract with Petrovietnam Technical Services Corp (PTSC) for operations at the Lam Son Field The latest addendum will see the FPSO PTSC Lam Son continue to work with PTSC until July 31. Prior to the latest extension, the FPSO was...
June 19th, 20190Malaysia's Yinson has sealed an extension with Addax Petroleum Development for 1985-built FPSO . The extension comes into effect retrospectively from October 17, 2018 and is for a period of four years. The value of the contract extension from June 187, 2019 is estimated at $137.5m. The FPSO’s original contract was awarded for...
June 18th, 20190Malaysia's Perisai Offshore has secured a letter of award from Petronas for the provision of jackup rig for the Samarang drilling campaign. The contract is estimated to commence from between August and September, with five wells to be completed in 200 days. The estimated value of the contract is $20m. Perisai Pacific 101 is the...
June 11th, 20190Malaysian offshore vessel owning giant Icon Offshore has been awarded a contract by Sarawak Shell/Sabah Shell Petroleum Company a contract for one of its anchor handling tug supply vessels. The contract has already commenced and is for a period of 825 days, with two additional one-year extension options available. The value of the...
May 29th, 20190Malaysia's offshore vessel builder Nam Cheong has secured long-term chartering contracts for three offshore support vessels worth about RM80m ($19m), with an option for extension valued at RM50m ($11.9m). The three-year chartering contracts are for a platform supply vessel and two anchor handling tug supply vessels, which will be used...
May 8th, 20190Task Subsea’s subsea operation vessel is getting set for operations at the Anjung gas development project, offshore Sarawak, East Malaysia. The vessel went on hire to Shelf Subsea on May 1, and will head up critical shutdown work at the Petronas field. The shutdown activities and flowline installations are scheduled to take a...
May 7th, 20190Malaysia's Bumi Armada has announced that its Indian joint venture company Shapoorji Pallonji Bumi Armada Godavari (SPBAG) has been awarded a contract by India's state-owned oil company Oil and Natural Gas Corporation Limited (ONGC). The contract is for the charter and operations of an FPSO for a period of nine years, to be used at...
April 26th, 20190Malaysian oil and gas major Petronas has entered into a sale and purchase agreement with Brazilian state run energy group Petrobras for a 50 percent equity in the Tartaruga Verde field and its facilities and Module III of the Espadarte field, both located offshore Brazil. Petronas said the acquisition marks an important milestone for...
April 25th, 20190Malaysian offshore production and support services provider Bumi Armada has refinanced its unsecured term loans of $380m and revolving credit facilities of $280 into a single facility consisting of Tranche 1 facility of $260m, and Tranche 2 facility of $400m. The new loans are repayable over two and five years respectively. “The...
