MISC have delivered safe and successful projects through well-built relationships with customers and partners. These partnerships have enabled us to further enhance our capabilities in Offshore Engineering and Asset Management with business processes that are in accordance with international standards and best practices and is certified ISO 9001:2008. • Proven technology to provide the best solutions for our customers’ offshore development needs. • Solid foundation in the offshore industry to offer comprehensive solutions for deepwater and small field developments. • Pursuing technical alliances and strategic partnerships to achieve supremacy in the domestic market and competitiveness in selected international markets especially in FPSO/FSO and other potential new businesses. MAJOR DEVELOPMENTS FROM 1 JANUARY 2014 – 31 DECEMBER 2014 • Successful sail away of FPSO Cendor on 29 March 2014 and received first oil on 1 September 2014. The FPSO Cendor, developed as Cendor Phase 2 is the succession to FSO Cendor for Block PM304 and is designed to be operated for 10 years uninterrupted. The FPSO, which is spread moored is capable of storing a minimum of 750,000 bbls. • Appo i nt ed by PETRONAS Ma l ays i a Pe t ro l eum Management (MPM) to conduct basic engineering design for the Water Injection Facility (WIF). The WIF is intended to improve initial incremental oil recovery by providing water injection system into the current production well. • Our first Semi-sub FPS Gumusut-Kakap, Malaysia’s second deepwater development, achieved first oil production in October 2014. The FPS was fully built and integrated at MMHE, a subsidiary of MISC Berhad. • Completed decommissioning and demobilisation activity of FSO Cendor from offshore Terengganu (Cendor Field PM304) on 19 October 2014. The achievement will be the launching pad for future demobilisation projects with its display of commendable success. • MISC received the Letter of Award (LOA) from Vestigo Petroleum Sdn. Bhd. for the EPCIC and leasing of a production vessel to develop its marginal oil field. The term of the contract is 11 years with an option to further extend up to 5 years. OFFSHORE BUSINESS Class Number of Facilities Floating Production, Storage and Offloading (FPSO) 6 * Floating Storage and Offloading (FSO) 4 ** Mobile Offshore Production Unit (MOPU) 2 Semi Submersible Floating Production System (Semi-Sub FPS) 1 *** Total 13 * Includes four jointly-owned FPSO ** Includes jointly-owned with Petroleum Technical Services Corporation (PTSC) *** Jointly-owned with E&P Venture Solutions Co. Sdn. Bhd. (EPV), a wholly-owned subsidiary of PETRONAS Carigali Sdn. Bhd. (PCSB) MISC BERHAD - Annual Report 2014 p 22 BUSINESS OVERVIEW AND FLEET STRENGTH as at 31 December 2014
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