Key developments Despite the vagaries of the marketplace, MHB achieved several key milestones. The year saw the safe and successful sail away of the completed Malikai TLP for Shell and PETRONAS, the first of its kind in Malaysia. MHB also celebrated the sail away of the MaMPU 1 which was deployed to the Anjung Kecil oil field offshore Sarawak in September 2016. With the deployment of the MaMPU 1, MISC is the first in the region to introduce new technologies on a floating asset and this development is set to strengthen our position as one of the leading marginal field solutions providers. The MaMPU 1’s technology f ron t i e r has been enhanced by incorporating the Condensate Recovery System (CRS), a process that recovers condensation from unwanted gases (usually flared gas) and increases the hydrocarbon yield from the field. When comb i ned wi t h t he Sep- i SYSTM, production will be enhanced by an additional 50 barrels of oil per one million square cubic feet of flared gas. It is expected that the CRS will also contribute to lowering CO2 emissions by 25% to 30% on daily flaring rates. This is consistent with MISC’s mission to operate responsibly and proactively minimise our impact on the environment where possible. The segment’s performance was lifted up by a number of new contracts that were signed in the year under review. These included Package 3 and Package 14 for the RAPID project, Dangote CALM buoy mooring system, Benchamas 2 external turret mooring system, the supply and installation of offshore wellhead facilities and LNGC Puteri Zamrud repair life extension. MMHE EPIC Marine and Services Sdn. Bhd. (MMHE), a joint venture company, was formed to undertake repair services at the Kemaman ship repair facilities primarily for the East Coast-based offshore vessels market. This will drastically reduce the journey time and bunker requirements for these vessels which previously underwent repairs at Pasir Gudang. It will also free up the Pasir Gudang marine facilities to cater to other types of vessels. MHB also completed the first of its Goliath Crane, a massive structure with a 600-tonne lifting capacity and a 100 metre hook height. The GC1 will enable the projects to be rolled out at a lower cost and in a more productive manner. A second crane, the GC2, is expected to be completed in 2017. MARINE & HEAVY ENGINEERING MISC BERHAD • Annual Report 2016 74 President/Group CEO’s Review and MD&A BUSINESS SEGMENT AND OPERATIONS REVIEW
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