Fossil Energy – New Guinea
MISC Berhad (MISC) has officially marked its strategic entry into Papua New Guinea’s energy sector after securing a long-term contract with ExxonMobil PNG.
The agreement appoints MISC to provide a Floating Storage and Offloading (FSO) unit through a long-term Bareboat Charter, along with comprehensive Operations & Maintenance (O&M) services.
This project is set to introduce Papua New Guinea’s first-ever offshore floating facility. The FSO will be a critical component of the Kutubu Pipeline System, a vital artery for the country’s oil and gas exports.
The partnership between the Malaysian maritime giant and the ExxonMobil subsidiary is built on a long-term horizon, with a contract period of 15 years expected. At the same time, EMPNG holds the right to extend the contract for up to an additional 15 years.
The FSO is expected to commence operations in the first half of 2028.
