PETALING JAYA: T7 Global Bhd via subsidiary Tanjung Offshore Services Sdn Bhd (TOS) has entered into an RM400 million charter and operation & maintenance contract with Busrakham G11 Ltd for the leasing, operation and maintenance of the Mobile Offshore Production Unit (MOPU) in Nong Yao Field, Southern Gulf of Thailand on Sept 5.
Under the contract, TOS shall be responsible for the engineering, procurement, construction, installation and commissioning of the MOPU and the subsequent leasing, operation and maintenance of the MOPU for five years with an extension of two years.
T7 Global group CEO Tan Kay Zhuin said that it is its third MOPU project after the converted Cendor MOPU for Petrofac and the newbuild Bayan MOPU for Petronas Carigali.
“Our MOPU solution is a build-own-operate concept, which allows offshore operators to enable fast-track production in marginal fields and/or to enhance hydrocarbon recovery in mature fields, with reduced exposure in their initial capital expenditure. We are optimistic that T7 Global is now positioned as one of the leading MOPU solution providers in the region,” he said.
Tan added its order book has increased to RM2.6 billion with the contract.
The G11/48 development block, including the Nong Yao discovery, is owned by Mubadala Petroleum (67.5%), KrisEnergy (22.5%) and Palang Sophon (10%). Mubadala Petroleum operates the Nong Yao field.