Malaysia's FVSB Bags PETRONAS' Contract for PFLNG1 Facility

FPSO Ventures Sdn. Bhd. (FVSB), a Malaysian-based services provider for offshore floating systems and a subsidiary of logistic and shipping firm MISC Berhad, recently bagged a contract from the country's national oil company Petroliam Nasional Berhad (PETRONAS) to provide marine operations and maintenance services for the latter's first floating liquefied natural gas (PFLNG Satu or PFLNG1) facility.

The offshore operations and maintenance contract is for a duration of five years, with PETRONAS holding an option for a further two years. The deal also requires FVSB to commence work on a seven month operational readiness phase, which begun immediately, prior to the commencement of the contract.

The company's workscope covers offshore marine operations and maintenance, turret and mooring systems maintenance, classification and regulatory compliance, technical and non-technical support and onshore supply base.

FVSB has assigned 53 personnel for the project, with most of the work to be executed in Miri and Bintulu in Sarawak and supported by the firm's headquarters in Kuala Lumpur.

When completed, the PFLNG1 facility will be moored in the Kanowit gas field, located 111 miles (180 kilometers) offshore Sarawak, Malaysia, where it will produce 1.2 million tons of LNG annually.

According to PETRONAS, the facility will play a significant role in its efforts to unlock gas reserves located in Malaysia's remote and stranded fields, which had been deemed uneconomical to develop conventionally as well as to help meet the growing demand for gas.

Earlier this month, PETRONAS commerorated a milestone achievement for the PFLNG1 project. The ceremony was held April 7 to mark 12 million man hours without any Lost Time Injury since construction begun in March 2012 at Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea.

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