MISC Inks Long-Term Bareboat Charter With ExxonMobill PNG

KUALA LUMPUR, Feb 10 (Bernama) -- MISC Bhd has secured contracts from ExxonMobil PNG Ltd, operator of the Papua New Guinea liquefied natural gas project, to provide a long-term bareboat charter as well as operations and maintenance services for a floating storage and offloading (FSO) unit.

In a filing to Bursa Malaysia today, MISC said the bareboat charter has a firm tenure of 15 years, with an option for the charterer to extend the contract by up to 15 years.

The FSO is expected to commence operations in the first half of 2028.

MISC said the contracts mark its strategic entry into Papua New Guinea, adding that the FSO will be the country’s first offshore floating facility and will be deployed as part of the Kutubu Pipeline System.

-- BERNAMA