KUALA LUMPUR: MISC Bhd’s joint-venture companies have secured a five-year extension from Shell Brasil to provide its floating production storage and offloading (FPSO) Espirito Santo, offshore Brazil.
The energy shipping company announced on Tuesday its two JV companies -- Brazilian Deepwater Production Ltd (BDPL) and Brazilian Deepwater Production Contractors Ltd (BDPC) – had entered into agreements with Shell Brasil on Dec 7.
The agreements were for five years’ extension of the lease, operation and maintenance contracts for the FPSO Espirito Santo located in the Campos Basin for the BC-10 field, offshore Brazil.
The initial contracts were entered by the companies with Shell Brasil in 2006 with expiry date of December 2023. With the extension, the duration of the contracts will be extended until December 2028.
BDPL and BDPC are JVs between SBM Holding Inc. S.A (SBM) and MISC Offshore Holdings Sdn Bhd.
SBM owns 51% of equity in BDPL and BDPC whilst MOHB owns 49% of equity in each of the companies.
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