MISC may land first floating production contract award in 2017

Singapore

KUALA Lumpur-listed shipping giant MISC, in a joint bid with Duta Marine, is said to have pulled ahead in the tender for what could be the first floating production unit to be awarded amid the extended dry spell in contracting activity for similar facilities within the upstream oil and gas sector.

The Business Times understands that the two contractors have put in the lowest bid price of about US$386 million for the contract with Husky-CNOOC Madura Limited (HCML) to supply a floating production unit (FPU) to develop the MDA-MBH project in the Madura Strait production sharing contract (PSC) off Indonesia.