Sabah gets its first owned FPSO

Kuala Lumpur: The Sabah State Government marked its venture into full scale oil and gas exploration and production with the naming of the Floating Production Storage and Offloading (FPSO) vessel operated by its wholly-owned company, M3nergy Berhad at Keppel Shipyard yesterday.

The newly-converted vessel, costing around $290m, was named Ratu Nusantara in a ceremony by Datin Seri Faridah Tussin, wife of Chief Minister Datuk Seri Musa Aman.

The vessel will head to the Bukit Tua oil and gas field in Indonesia operated by Petronas through a Profit Sharing Contract (PSC) with Indonesia's oil regulator, SKK Migas and PC Ketapang II Ltd at Madura, about 110km northeast of Java.  [22/10/14]