MISC Expands Offshore Footprint with ExxonMobil FSO Deals in Papua New Guinea

MISC, Malaysia's owner and operator of offshore floating and energy-related maritime solutions and services, has signed new deals with ExxonMobil PNG (EMPNG), a subsidiary of the U.S. energy giant, for a new floating storage and offloading (FSO) unit destined for operations in Papua New Guinea. According to an announcement from MISC, the FSO unit will support EMPNG's liquefied natural gas (LNG) project in the country. The contract represents MISC's first venture into the Papua New Guinea market, expanding the company's offshore footprint in the Asia-Pacific region. 'This new contract with EMPNG marks MISC's maiden entry into Papua New Guinea, further strengthening our position as a leading provider of innovative and sustainable offshore solutions globally,' said Rajalingam Subramaniam, President and Group CEO of MISC Berhad. The new FSO unit will be specifically designed and built to meet the requirements of EMPNG's operations. MISC noted that the contract builds on the company's long-standing relationship with ExxonMobil, with whom it has collaborated on various offshore projects over the years. This latest deal comes as MISC continues to diversify its portfolio of offshore energy solutions, leveraging its expertise in areas like floating production, storage and offloading (FPSO) units, floating storage and offloading (FSO) vessels, and other offshore floating assets. The company's expansion into Papua New Guinea underscores its strategy to grow its presence in key Asia-Pacific markets, according to industry sources.