SINGAPORE -- BW Offshore AS is evaluating a Malaysian field for an LNG FPSO (FLNG).
Speaking at the Marine Money Asia Week conference, Svein Moxnes Harfjeld, BW Offshore CEO, said the field under consideration is one of 80 stranded gas fields in Malaysian waters.
The front-end engineering and design study has been done on the FLNG, Harfjeld said, adding that an FLNG operation would be for an average of a 15-year gas production life of a field.
Investment in the FLNG facility would range from about $600 million to $1.5 billion depending on the production capacity of a unit.
Harfjeld said BW Offshore considers the FLNG the best option for extracting stranded gas, noting that the facility offers environmental advantage
BW Offshore formed a joint venture in 2005 with the Malaysian national oil corporation, Petronas, and its shipping company MISC Bhd., to develop fields using an FLNG.