MISC Berhad (MISC), Malaysia’s owner and operator of offshore floating and energy-related maritime solutions and services, has been hired for the provision of lease, operate, and maintain (O&M) scope of work for a floating production unit (FPU) destined to be deployed at a natural gas development project off the coast of Brunei.
Illustration; Credit: MISC
Following an international competitive bidding process, MISC has received a letter of award (LOA) from Petronas Carigali Brunei, a subsidiary of Petronas, for a 12-year charter of an FPU, which is expected to begin operation in the first half of 2029 at a natural gas project in Brunei.
Petronas also has the right to extend the charter for up to three additional one-year periods. The project is not subject to the approval of MISC shareholders or any governmental authorities. This contract marks MISC’s strategic entry into Brunei’s offshore oil and gas market.
The Malaysian giant underlines that the FPU is expected to contribute to the long-term supply of feedstock for Brunei’s LNG sector, supporting the country’s export commitments, national revenue and energy security.
Zahid Osman, President & Group CEO of MISC, highlighted: “This project embodies the spirit of our
Delivering Progress strategy, as we continue to strengthen our foundation with high-quality,
sustainable assets that deliver reliable performance and long-term value to our stakeholders.”
Designed with a production and processing capacity of 450 million standard cubic feet
of gas per day (MMscfd) and 1,170 barrels of condensate per day, the FPU has a storage capacity of 300,000 barrels, which is perceived to ensure operational flexibility.
The company elaborates that the unit is engineered to deliver high operational efficiency and reliability throughout its deployment at the gas field, supporting sustained production and maximizing value for stakeholders.
“This strategic partnership with PCBL not only marks the expansion of MISC’s portfolio in the offshore
industry but also reinforces its commitment to supporting key energy developments in the region,
guided by its Delivering Progress strategy,” underscored the Malaysian firm.
The oil and gas giant is actively working on augmenting its global hydrocarbon arsenal, as illustrated by a recent production sharing agreement (PSA) for a block offshore Guyana, where the firm’s partners are TotalEnergies and QatarEnergy.
Meanwhile, MISC’s discussions about a potential business combination between its offshore segment and Malaysia’s Bumi Armada were terminated earlier this year.
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