The letter of award (LoA) from JX Nippon Oil and Gas Exploration (M) involves the provision of EPCIC and subsequent leasing of its FPSO Deep Producer 1 until 17 November 2023 for the Layang Development Project at Block SK10, offshore Sarawak.
There is a provision for optional yearly extensions of lease for the FPSO facilities up to a maximum of 10 years.
The award was estimated to be worth about MYR1.2bn for the primary period, with additional potential of up to about MYR1.47bb should the full extension options be exercised.
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