MISC units secure five-year FPSO extension from Shell Brasil

KUALA LUMPUR: MISC Bhd’s joint venture companies have secured a five-year extension of the lease, operation and maintenance contracts from Shell Brasil for the FPSO Espirito Santo, offshore Brazil.

MISC said its two joint venture companies, Brazilian Deepwater Production Ltd (BDPL) and Brazilian Deepwater Production Contractors Ltd (BDPC), had entered into agreements with Shell Brasil.

“The initial contracts were entered by the companies with Shell Brasil in 2006 with expiry date of December 2023. With the extension, the duration of the contracts will be extended until December 2028,” it said.

BDPL and BDPC are both joint venture companies between SBM Holding Inc S A (SBM) and MISC Offshore Holdings Sdn Bhd (MOHB).

SBM owns 51 per cent of equity in BDPL and BDPC respectively, while MOHB owns 49 per cent of equity in each of the companies.

Source: TheEdgeMarkets