MISC and MMHE likely to win two major O&G jobs

According to the company, the shipping tonnage oversupply situation and cut in global oil production by the Organisation of the Petroleum Exporting Countries in 2017 will continue to weigh on the petroleum shipping segment this year

PETALING JAYA: MISC Bhd and Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHE) are frontrunners for two major contracts from Petronas Carigali’s Limbayong oil and gas field development off Sabah, says AmInvestment Bank Research.

Given the local content requirement for the contracts, the research house said it expected MISC to secure the floating production, storage and offloading (FPSO) vessel charter job, while its 66.5%-owned fabrication provider MMHE was likely to win the engineering, procurement, construction, installation and commissioning (EPCIC) contract.