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MISC makes inroads into Thai market with maiden FSO project for Chevron

MISC makes inroads into Thai market with maiden FSO project for Chevron
Malaysian energy-related maritime solutions and services provider MISC has made inroads into Thailand's offshore oil and gas (O&G) market for the first time, with the contract for a FSO vessel project for Chevron.

The $230m deal, done through MISC unit MISC Offshore Floating Terminals (L) Limited (MOFT) was for the lease and operation of an FSO for the FSO Benchamas 2 Project by Chevron Offshore (Thailand) Ltd. (COTL) in the Gulf of Thailand. 

The contract is for 10 years with COTL having up to five opotional one-year extensions. The scope of work includes engineering, procurement, construction, installation, commissioning, lease and operation of the FSO Benchamas 2 Project which is expected to commence operations by the second quarter of 2018.

MISC president and ceo Yee Yang Chien said that the contract reflects the confidence of its business partners in MISC’s capability and reliability.

“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,”

“I would 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 permanent secretary at Thailand's ministry of energy Areepong Bhoocha-oom.     

“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 Pairoj Kaweeyanun, president of Chevron Offshore Thailand.

Yee 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.”