Monday, August 22, 2016
Perisai Petroleum Teknologi Bhd reported Friday that Hess Exploration and Production Malaysia B.V. and Larizz Petroleum Services Sdn Bhd agreed to extend the charter for a floating production, storage and offloading (FPSO) facility now operating in the North Malaysia Basin, offshore Peninsular Malaysia for six months.
Under the extension, FPSO Perisai Kamelia will continue working at the field till May 31, 2017, when Hess may exercise its option to further extend the charter on a monthly basis for up to a total of 12 months to May 31, 2018.
Perisai revealed that the charter value is between $31.95 million $45 million, depending on the daily average Brent crude oil price.
Separately, another Malaysian company Daya Material Berhad (DMB) disclosed Friday that its subsidiary DOCSB had signed a memorandum of understanding with Petro Pride Subsea Ltd. (PPSL) to tap on each other’s expertise, know-how, industry connections and resource in their collaboration to provide services in fabricating and installing pipeline project.