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MISC Berhad enters Thai offshore market via Chevron FSO lease

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MISC Berhad, Malaysian maritime solutions and services provider, has made first steps towards Thailand’s offshore oil and gas market via a floating, storage and offloading (FSO) vessel lease and operations contract with Chevron Offshore Thailand Limited (COTL).

MISC said on Tuesday that its wholly-owned subsidiary, MISC Offshore Floating Terminals (MOFT), signed a contract for the lease and operation of an FSO vessel for the Benchamas 2 project in the Gulf of Thailand.

The company stated that the 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 $230 million for a duration of 10 years with up to 5 extensions of one year each.

http://www.offshoreenergytoday.com/misc-berhad-enters-thai-offshore-market-via-chevron-fso-lease/?utm_source=emark&utm_medium=email&utm_campaign=daily-update-offshore-energy-today-2016-08-24&uid=217924

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