MISC Integrated Annual Report 2020

Introduction / Who We Are / Key Messages / Highlights / Strategic Review //////// MISC Berhad / Integrated Annual Report 2020 1 Section 18 MISC Berhad / Integrated Annual Report 2020 1 19 //////// Strategic Review / Highlights / Key Messages / Who We Are / Introduction Section LNG carriers allow natural gas to be transported in liquid state, making it feasible to be transported across oceans without pipelines. The containment systems on board the vessels are capable of storing the natural gas at below the boiling point of -162° Celsius. At this temperature, the gas turns to liquid, occupying a volume 600 times smaller. MISC’s fleet of LNG carriers consist of two types of containment systems which are known as membrane and Moss types. MEMBRANE-TYPE LNG CARRIER The membrane-type system is more space-efficient and is able to have higher capacity than a Moss-type vessel of the same dimension. MOSS-TYPE LNG CARRIER A Moss-type vessel has self-supporting spherical tanks making it more robust and resistant to sloshing. It provides a higher degree of operational flexibility for worldwide trading capability including the ability to load cargoes at a floating liquefied natural gas (FLNG) unit. FLOATING STORAGE UNIT (FSU) An FSU is a flexible LNG storage solution which is an alternative to land-based facilities. 24 VESSELS 5 VESSELS 2 VESSELS 1 VESSEL WHAT WE OWN/OPERATE VERY LARGE CRUDE CARRIER (VLCC) Tanker vessel with a capacity of approximately 2 million barrels of crude oil. Used to transport crude oil over long distances in inter-regional trade. SUEZMAX TANKER Tanker vessel with a capacity of approximately 1 million barrels of crude oil. Used to ship crude oil and has the flexibility to do longer haul cargo as well as shorter regional trades. AFRAMAX TANKER* Tanker vessel with a capacity of approximately 0.7 million barrels of crude oil. Used to carry crude oil or dirty products such as fuel oil in mainly regional trades. DYNAMIC POSITIONING SHUTTLE TANKER (DPST) DPST possesses dynamic positioning technology to carry crude oil from offshore production facilities to the shore for storage or distribution. LIGHTERING SUPPORT VESSEL (LSV) Transports mooring equipment and crew to conduct lightering operations. * includes one Panamax Tanker and three LR2 tankers currently trading crude oil 11 VESSELS 6 VESSELS 31 VESSELS 10 VESSELS MODULAR CAPTURE VESSEL (MCV) Unique Aframax-sized vessel that combines FPSO and dynamic positioning technology. The MCV forms part of an innovative marine system solution designed to respond to a subsea well control incident. CLEAN PRODUCT TANKER Long-range 2 (LR2) tanker vessels with capacity of approximately 0.7 million barrels. Used to ship refined petroleum products over both long-haul and short-haul trades. CHEMICAL TANKER Used to ship a variety of chemicals and vegetable oils primarily in both inter and intra-regional trades. 2 VESSELS 2 VESSELS 4 VESSELS 10 VESSELS HEAVY ENGINEERING ASSETS We have the largest fabrication area by tonnage capacity, to provide engineering, procurement, construction, installation and commissioning (EPCIC) of complex structures for offshore and onshore facilities. MARINE BUSINESS ASSETS Our well-equipped yard includes three dry docks, land berths, quays and a shiplift. These facilities enable us to perform repair works, maintenance, marine conversion and refurbishment of a wide range of vessels. FPSOs and FSOs today have become the effective way of extracting hydrocarbon for many offshore oil and gas producing regions around the world. The vessel sizes depend on the oil and condensed storage capacity requirements and the vessels are secured to the seabed via mooring systems which are determined by the environment where they operate. 6 VESSELS An FPSO unit is a vessel-type production system that receives full well stream fluids such as crude oil, water and others from a subsea reservoir through risers. It has topside production facilities that separate the fluids into crude oil, natural gas, water and impurities. It also has storage tanks where processed crude oil is stored. Crude oil is offloaded onto tankers for further refining onshore. It can be designed with the capability of staying on location for continuous operations for 20 years or longer. An FSO unit is simpler than an FPSO as it does not have production processing capabilities. It is normally integrated with other production systems such as fixed platforms, MOPU, tension leg platforms (TLP) among others. An FSO is also equipped to store and offload crude oil to a tanker. A MOPU is a mobile structure for offshore well production, operating in shallow waters. It has production facilities to process oil and natural gas and export oil through subsea pipeline to an FSO. A semi-submersible FPS is a large pontoon-like structure submerged below the sea surface at a predetermined depth with an FPS that receives fluids such as crude oil, water and others from a subsea reservoir through risers. The topside production facilities separate the fluids into crude oil, natural gas, water and impurities. Our semi-sub FPS operates at a depth of 1,400 metres. The oil is exported via a 200-kilometre long pipeline to an oil and gas terminal in Kimanis, Sabah. 5 VESSELS 2 UNITS 1 UNIT VERY LARGE ETHANE CARRIER (VLEC) A specialised gas carrier which transports very large quantity liquified ethane trading over long distances, for example between North America and the Far East. The vessel transports ethane at -94° Celsius in membrane tanks and equipped with dual-fuel propulsion and reliquefaction systems. LNG ASSET SOLUTIONS PETROLEUM & PRODUCT SHIPPING OFFSHORE BUSINESS MARINE & HEAVY ENGINEERING 1 VESSEL LNG BUNKER VESSEL (LBV) LBV is a small scale LNG vessel used to supply LNG as marine fuel (bunker) to LNG- fueled vessels via ship-to-ship transfer operation. This vessel can also be utilised for small scale LNG transportation, and for Gas Up Cool Down (GUCD) operation for conventional LNG vessels. FLOATING PRODUCTION, STORAGE AND OFFLOADING (FPSO) FLOATING STORAGE AND OFFLOADING (FSO) MOBILE OFFSHORE PRODUCTION UNIT (MOPU) SEMI-SUBMERSIBLE FLOATING PRODUCTION SYSTEM (FPS)