MOFT Bags $230M FSO Deal for Chevron's Benchamas 2 Project off Thailand
Malaysia's MISC Berhad reported Tuesday that its wholly owned unit, MISC Offshore Floating Terminals (L) Ltd. (MOFT) has bagged a $230 million contract to lease and operate a floating storage and offloading (FSO) vessel for the FSO Benchamas 2 Project operated by Chevron Offshore (Thailand) Ltd. (COTL) in the Gulf of Thailand.
MOFT's workscope covers engineering, procurement, construction, installation, commissioning, lease and operations of the FSO Benchamas 2 Project, with the facility scheduled to begin operations by the second quarter of 2018.
The contract, MOFT's first in the Thailand offshore oil and gas market, will run for a duration of 10 years, with COTL holding 5 options to extend the deal by 1 year each.
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