General – EPC Contract
LMC has received a Letter of Award (LOA) from MISC for the EPC supply of an External Turret Mooring System that will be used on a new Floating Storage and Offloading (FSO) unit for the PNG LNG Project in Papua New Guinea.
The Operator of the PNG LNG Project, ExxonMobil, together with the operator of the PNG Oil Fields, Santos, has recently awarded MISC Group a long-term bareboat charter and operations and maintenance contracts for the FSO unit under a firm 15-year charter.
The FSO, designed for a 30‑year operational lifespan and a minimum storage capacity of 800,000 bbl, is due to start operations as part of the Kutubu Pipeline System, operated by Santos, during the first half of 2028.
It will be Papua New Guinea’s first offshore floating facility, with specifications that include capabilities to handle condensate for prospective future projects.
The vessel will support storage and offloading of liquid hydrocarbons at the terminal, including crude oil and condensate produced from various fields in Papua New Guinea.
The turret and mooring system will be designed at LMC’s London headquarters and fabricated in Southeast Asia. This will be the company’s 16th design, following closely on from its award of the turret for PTSC SEA Block B FSO in 2025. That project is now under construction in Vung Tau, Vietnam.
