Page 10 - AsianOil Week 33 2021

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Destini wins Malaysian service contract from Repsol
PROJECTS & COMPANIES
MALAYSIAN service provider Destini has won a contract to provide tubular handling and con- ductor installation equipment and services from Repsol Oil and Gas Malaysia.
Destini said on August 18 that the contract would involve servicing Repsol’s oil and gas assets in Malaysia for a two-year period start- ing from July 21. The company added that the contract included the option for a one-year extension.
While the contract’s value was not disclosed, Destini said the award brought its energy divi- sion’s order book to MYR486.63mn ($114.8mn). It added that it was “optimistic” about securing more contracts this year amidst the ongoing eco- nomic recovery.
Spanish major Repsol reached a deal with Malaysian independent Hibiscus Petroleum in June to sell its Malaysian upstream assets, as well as a block in Vietnam, for $212.5mn.
Hibiscus said at the time that its subsid- iary Peninsula Hibiscus had entered into a conditional sale and purchase agreement (SPA) with Repsol to buy the latter’s stake in Fortuna International Petroleum. Fortuna,
via wholly owned subsidiaries Repsol Oil and Gas Malaysia and Talisman Vietnam, has stakes in four offshore production-shar- ing contracts (PSCs) in Malaysia as well as another licence offshore Vietnam.
Repsol’s Malaysian portfolio includes 60% stakes in PM314, PM305 and 2012 Kinabalu Oil as well as a 35% interest in PM3 CAA. The Span- ish major also owns 70% of Vietnam’s Block 46. It operates all five licences.
Destini, meanwhile, also provides offshore well services for Petrofac’s shallow-water PM304 block, after winning a three-year contract in July 2019. The contract covers the provision of tubu- lar handling equipment and running services for all Petrofac wells offshore Malaysia.
Petrofac brought the block’s fourth oil- field onstream earlier this year, with Petro- nas revealing late last month that the East Cendor oilfield had delivered first oil on June 23. Petrofac operates the field in part- nership with Kuwait Foreign Petroleum Exploration Co. (KUFPEC) and Petronas Carigali. PM304’s other fields include Cen- dor, West Desaru and Irama.™
McDermott wins second EPC contract for Philippine LNG project
PROJECTS & COMPANIES
US-BASED McDermott International has won an engineering, procurement and construction (EPC) contract for work on one several Philip- pine liquefied natural gas (LNG) import facilities currently under development.
The service provider said on August 18 that Atlantic Gulf and Pacific (AG&P) had awarded the contract to its CB&I Storage Solutions unit
for work on a second LNG storage tank and double-wall LNG bullet for the Philippines LNG (PLNG) terminal in Batangas Bay.
AG&P awarded the contract for work on terminal’s first LNG storage tank to CB&I Stor- age Solutions earlier this year. The additional scope includes a 1,200 cubic-metre shop-fab- ricated double wall LNG bullet and a second
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w w w . N E W S B A S E . c o m Week 33 19•August•2021