During the period under review, MHB successfully delivered the Floating Production, Storage and Offloading (FPSO) facility, FPSO Cendor, which left the yard on the morning of 29 March 2014 to its location offshoreTerengganu, Peninsular Malaysia. This eleventh conversion for MHB reinforces its position as the only domestic company that has the capability, know-how and facilities to convert floating structures into FPSO and floating, storage and offloading (FSO) facilities. This was followed a month later by the sail away of Tapis-R topside, MHB’s first Enhanced Oil Recovery (EOR) project. The topsides consisted of 18,000 MT integrated deck with space for production processing equipment, utilities systems and living quarters for 145 per sonnel. In addition, the Kebabangan (KBB) Topside was also completed and sailed away during the first half of the year. It is the first platform in Malaysia that uses free-fall lifeboats, enabling the fastest and safest way to escape from the platform. Several key projects are underway with a number of them scheduled for completion in 2015. These include the construction of the Central Processing Platform (CPP) and a bridge-linked Wellhead Platform (WHP) for the development of two gas fields in Block SK316 for PETRONAS Carigali Sdn. Bhd . Equa l l y impo rt an t i s t he construction of the Malikai Tension Leg P l a t f orm ( TLP ) f or t he Ma l i k a i Deepwater Project for Sabah Shell Petroleum Company (SSPC). Other newly secured projects were the Besar–A WHP for PETRONAS Carigali Sdn. Bhd. and the CPP for the North Malay Basin (NMB) Bergading Complex for Hess Exploration and Production Malaysia B.V., as well as a fabrication contract for an External Turret Mooring System for the PETRONAS FLNG2 Facility. By the same token, MHB had also successfully paired both technical experience and good customer relations to achieve a full capacity of 15 vessels and rigs for repair and refurbishment works during the year. T h e B u s i n e s s Tr a n s f o r ma t i o n Programme had brought about an i nc rease i n produc t i v i t y i n the fabrication activities. We are pleased to have been awarded the “Engineering and Construction Project of the Year” by publisher “The Oil & Gas Year”, for the TLP Malikai Deepwater Project. The award recognises MHB as the only offshore heavy engineering yard in Malaysia for deepwater fabrication. MHB was also awarded with the “2013 Shell Chief Executive Officer’s Health, Safety, Security, Environment and Social Performance Awards (CEO’s HSSE & SP Awards)” by Sarawak Shell Berhad (SSB) for the F14/F29 Project. T h e Awa r d r e c o g n i s e s MHB ’s achievements in sustaining Health, Safety, Security and Environment (HSSE) performance and goal zero (i.e. zero fatalities, zero accidents and zero significant incidents) throughout the entire fabrication work load out and sail away activities. 2015 will be another demanding year. The Exploration & Production (E&P) environment in Malaysia continues to remain challenging in the offshore fabrication segment. Recognising this, MHB will continue to undertake major opera t i ons exce l l ence and cos t leadership initiatives to ensure it retains its market competitiveness during the challenging year ahead. p 69 MISC BERHAD - Annual Report 2014
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