PTTEP Awards Long-term Charter Extension for FPSO Kikeh

Credit: MISC
Credit: MISC

PTTEP Sabah Oil Limited, a Malaysian subsidiary of the Thai oil company PTTEP, has awarded a six-year contract extension for the FPSO Kikeh, operating in deep waters offshore Sabah, Malaysia.

The charter extension news was shared this week by Malaysia's MISC, which is a partner in the vessel owner Malaysian Deepwater Floating Terminal (Kikeh) Limited, together with SBM Holdings Inc. S.A. (SBM). MISC and SBM own 51% and 49% of the equity in MDFT, respectively.

The charter extension starts in January 2022 and ends in January 2028. The FPSO Kikeh is located in Block K, offshore Sabah, Malaysia. PTTEP acquired the asset from Murphy Oil in 2019.

Built in 2007, FPSO Kikeh is the first and largest deepwater FPSO in Malaysia and Asia as well, MISC said.

The FPSO can produce 120,000 barrels of oil per day and has a storage capacity of two million oil barrels.

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