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.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Malaysia's InvestKL Woos Top Oil, Gas MNCs to Base in Kuala Lumpur
- Petrobangla Invites EOIs for 3 Offshore Exploration Blocks in Bay of Bengal
- Malaysia's SapuraKencana Posts 7.1% Gain in 2Q FY17 PAT to $27M
- TH Heavy Engineering, McDermott End Partnership in Malaysia
- Singapore's NUS Slowly Builds its Petroleum Engineering Program
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension