MISC'S JV company secures FPSO Kikeh contract extension

KUALA LUMPUR: Malaysian Deepwater Floating Terminal (Kikeh) Limited (MDFT), a joint-venture (JV) company between MISC Bhd and SBM Holdings Inc SA (SBM), has secured an extension for floating production storage and offloading (FPSO) Kikeh charter contract.

In a statement today, MISC said MDFT had entered into an agreement with PTTEP Sabah Oil Limited (PTTEP) recently to extend the FPSO Kikeh charter contract for six years beginning January 2022 until January 2028.

Built in 2007, FPSO Kikeh is the first and largest deepwater FPSO in Malaysia and Asia.

"The FPSO can produce 120,000 barrels of oil per day and has a storage capacity of two million oil barrels,” it added.

MISC and SBM owns 51 per cent and 49 per cent stake in MDFT, respectively. - Bernama