OceanSTAR Elite has gone on to announce that OceanSTAR Engineering Holding Sdn Bhd, which is its group of companies in Malaysia, has successfully gotten into a long-term contract with PETRONAS Carigali Sdn. Bhd. when it comes to the provision of lease, operation, and maintenance of a Floating Production Storage and Offloading – FPSO unit.
It is worth noting that the contract includes a 15-year firm charter period along with extension options supporting the PCSB Sepat Integrated Redevelopment Project, which is located offshore Peninsular Malaysia’s Terengganu.
OceanSTAR is going to take care of full engineering, purchase, construction, and installation, as well as commissioning of a newly-built FPSO hull, as well as all other related topside facilities.
Apparently, the hull happens to be the third unit, which is based on the AiP-approved standardized hull design of OceanSTAR-OSE GH200, which is the generic hull that is developed under the concept of Design-One, Built-Many.
Interestingly, the FPSO is getting developed for the Sepat Field Redevelopment in Block PM313 and is going to be a spread-moored unit that operates in almost 70 meters of water depth and is capable of processing at least 30,000 barrels of liquid every day. The facility is going to be well-equipped with gas lift, advanced gas injection, along with future water injection systems in order to make sure of an efficient as well as sustainable production.
The fact is that this project goes on to represent one of the first new-built FPSO developments contracted by PETRONAS for a rollout offshore Malaysia, thereby marking a major milestone in terms of the continued growth and capability development of OceanSTAR.
It also showcases the ability of the company to deliver full-scope and integrated floating production solutions that cover the overall project lifecycle right from design and construction to long-term operation and leasing, as well as maintenance.
As per the update, the project is indeed progressing steadily and is at present in the detailed engineering phase, with the critical long-lead equipment getting secured. The OceanSTAR project team based out of Kuala Lumpur continues to operate in close collaboration with the team from PCSB in order to ensure a project execution that is in every way successful.
Interestingly, due to long-term contract with PETRONAS Carigali, OceanSTAR has also extended its sincere appreciation to it for the trust it has placed in the company and is looking forward to operating closely to make sure of a successful delivery along with the long-term operation pertaining to the Sepat FPSO.
