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MISC wins Chevron Benchamas FSO contract

MISC wins Chevron Benchamas FSO contract

Aug 24, 2016
2 min read
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Malaysia’s MISC has won a contract worth US$230 million for the lease and operations of an FSO at Chevron’s Gulf of Thailand FSO Benchamas 2 Project.

The contract for MISC’s wholly owned unit, MISC Offshore Floating Terminals (MOFT) marks MISC’s first foray into Thailand’s offshore oil and gas market.  The deal is for 10 years, with a further five one-year extensions available to Chevron.

The contract includes the engineering, procurement, construction, installation, commissioning, lease and operations of the FSO Benchamas 2 Project. Operations are expected to commence by the second quarter of 2018.

Yee Yang Chien, president and CEO of MISC commented: “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. 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."

"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,” added Pairoj Kaweeyanun, president of Chevron Offshore Thailand.

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