Malaysian logistics company MISC said on Tuesday that it has secured its first floating production unit (FPU) project in Brunei, marking a strategic expansion into the country’s offshore oil and gas market.
The company said it received a letter of award from Petronas Carigali Brunei to lease, operate and maintain the FPU for a natural gas development project. The contract spans 12 years, with options for three additional one-year extensions.
The FPU will have a production capacity of 450 million standard cubic feet of gas per day, 1,170 barrels of condensate per day, and will include storage capacity of 300,000 barrels, according to MISC.
It will be deployed offshore Brunei to support feedstock supply for the country’s liquefied natural gas sector. MISC noted that the FPU is expected to commence operations in the first half of 2029.
Brunei, an LNG-exporting country, shipped out 4.9 million tonnes of the fuel last year, according to analytics firm Kpler.
(Reporting by Emily Chow; Editing by Sherry Jacob-Phillips)
