KUALA LUMPUR - MISC
Berhad (“MISC”), one of the world’s leading energy related maritime solutions
and services provider has made inroads into Thailand’s offshore oil and gas market
for the first time.
MISC’s wholly-owned subsidiary, MISC Offshore Floating Terminals (L) Limited
(“MOFT”) signed the contract for the lease and operations of a Floating,
Storage and Offloading Vessel (“FSO”) for the FSO Benchamas 2 Project by
Chevron Offshore (Thailand) Ltd. (“COTL”) in the Gulf of Thailand.
contract was secured through an international competitive bidding process and
marks MISC’s maiden foray into Thailand’s offshore oil and gas market. It is
valued at approximately USD230 million for a duration of 10 years with COTL
having the right to extend for up to 5 extensions of one year each.
part of the contract, the scope of work for MOFT includes engineering,
procurement, construction, installation, commissioning, lease and operations of
the FSO Benchamas 2 Project which is expected to commence operations by the
second quarter of 2018.
President / Chief Executive Officer, Mr. Yee Yang Chien said that the contract
reflects the confidence of its business partners in MISC’s capability and
“This is a milestone achievement for MISC in
winning the contract and it is significant to us, being our first collaboration
with Chevron in the offshore segment. With our broad spectrum of energy related
maritime solutions and services, be it in energy shipping or offshore
solutions, MISC is confident of our ability to serve the various needs of the
global oil and gas industry. We are honoured for the trust and opportunity
given to MISC for us to work together with Chevron towards the development and
sustainability of Thailand’s oil & gas sector.”
like to congratulate Chevron and its partners on another impressive milestone
in their mission to enhance Thailand’s long term energy security. I am pleased
that the advanced technology and safety upgrades of the vessel will help ensure
continuity of petroleum production for the Thai people,” said Dr. Areepong
Bhoocha-oom, Permanent Secretary of the Ministry of Energy, Thailand.
“We truly appreciate the support and
cooperation of the Thai government over the past 53 years. This significant investment on the FSO
replacement is a testament to Chevron’s commitment to supply long-term, safe
and reliable energy for the Kingdom of Thailand,” said Mr. Pairoj
Kaweeyanun, President of Chevron Offshore Thailand, Ltd.
Yee Yang Chien added “MISC is committed
to our role in moving energy to build a better world. We leverage on our strong
track record in delivering projects successfully as well as fostering trust and
relationships with our customers in the long term to fulfill our aspirations.
Through this project, we aim to contribute towards mutually developing and
strengthening MISC’s as well as our business partner’s position in the ASEAN
region’s oil and gas industry.”
Mr. Pairoj Kaweeyanun, President of Chevron Offshore Thailand, Ltd. and Tuan Syed Hashim Syed Abdullah, Vice President Offshore Business of MISC Berhad
after the signing of agreement between Chevron Offshore (Thailand) Ltd. and MISC Offshore Floating Terminals (L) Limited.
was incorporated in Malaysia and is principally involved in owning and leasing
of offshore, floating, production and offloading terminals.
is a company incorporated in Thailand and is primarily involved in oil and gas
exploration and production businesses.
signing of the agreement took place at the Miracle Grand Convention Hotel, Bangkok. MISC was
represented by Tuan Syed Hashim B. Syed Abdullah, Vice President Offshore
Business Unit and COTL was represented by Mr. Pairoj Kaweeyanun, President of
Chevron Offshore (Thailand) Ltd.