Malaysia International Shipping Corporation Berhad (MISC) announced it will provide leasing, operation, and maintenance (O&M) services for the Floating Production Unit (FPU) deployed in Brunei’s offshore natural gas development project, marking MISC’s strategic entry into Brunei’s offshore oil and gas market.
Following an international open tender process, MISC has received a letter of award from Petronas Carigali Brunei, a subsidiary of Malaysia’s national oil company Petronas, for a 12-year FPU charter contract. The FPU is scheduled to commence operations in the first half of 2029 for a natural gas project in Brunei. Petronas holds the right to extend the charter up to three times, each for a period of one year. This project does not require approval from MISC shareholders or government agencies.
This Malaysian conglomerate emphasized that the FPU is expected to provide long-term supply assurance for raw materials to Brunei’s liquefied natural gas (LNG) industry, helping the country fulfill its export commitments, increase national revenue, and ensure energy security.
Zahid Osman, President and CEO of MISC, emphasized: “This project embodies the core spirit of our ‘Delivering Progress’ strategy, and we will continue to build a solid foundation of high-quality, sustainable assets to deliver reliable performance and long-term value to our stakeholders.”
The FPU is designed with a processing capacity of 450 million standard cubic feet of natural gas and 1,170 barrels of condensate per day, along with a storage capacity of 300,000 barrels, effectively ensuring operational flexibility. The facility is engineered to achieve high operational efficiency and reliability during field deployment, thereby supporting sustained production and maximizing stakeholder value.
MISC emphasized: “The strategic partnership with PCBL not only marks MISC’s business expansion in the offshore oil and gas sector but also reinforces its commitment to supporting critical energy development in the region under the guidance of its ‘Delivering Progress’ strategy.”
Although MISC did not disclose the specific project name for this FPU, the last development project approved for Petronas in the country was the CA2 project. According to partner Mitsubishi Corporation, Petronas made the final investment decision (FID) on November 7, 2025, for the development plan of the CA2 block gas field located offshore Brunei Darussalam. The CA2 block encompasses the Kelidang gas field cluster, including the deepwater Northeast Kelidang gas field discovered in 2013 and the Keratau gas field.
The project is scheduled to commence production around 2030, with an average daily natural gas output of approximately 390 million standard cubic feet during the stable production period (equivalent to an annual output of about 2.9 million metric tons). The produced natural gas will be supplied to Brunei LNG, where it will be liquefied for export to Japan and other Asian countries.
Petronas is currently actively expanding its global oil and gas reserves, having recently signed a Production Sharing Agreement (PSA) with TotalEnergies and Qatar Petroleum for offshore blocks in Guyana. Meanwhile, MISC terminated discussions earlier this year regarding a potential business merger between its offshore division and Malaysia’s Bumi Armada.