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Ezra's associated company in Malaysia has FPSO charter extended

AN associated company of Ezra Holdings in Malaysia, Perisai Petroleum Teknologi Bhd, has had the charter for a floating production, storage and offloading (FPSO) facility extended for six months.

The FPSO, named Perisai Kamelia, is now operating in the North Malaysia basin in offshore Peninsular Malaysia under Hess Exploration and Production Malaysia's charter, which has now been extended to May 31, 2017.

The value of the six-month extension is expected to be within the range of US$31.95 million and US$45 million, depending on the daily average Brent crude oil.

The Malaysia-listed offshore drilling and construction firm added that Hess may exercise its option to further extend the charter on a monthly basis for up to 12 months till May 31, 2018.