ExxonMobil commissions MISC for Papua LNG FSO

ExxonMobil PNG has awarded MISC Group a long-term bareboat charter and operations and maintenance contracts for a new floating storage and offloading (FSO) unit for the PNG LNG Project in Papua New Guinea.

The arrangement involves a firm 15-year charter with extension options of up to an additional 15 years.

The FSO, designed for a 30‑year operational lifespan and a minimum storage capacity of 800,000 bbl, is due to start operations at the Kumul Marine Terminal as part of the Kutubu Pipeline System during the first half of 2028.

It will be Papua New Guinea’s first offshore floating facility, with specifications that include capabilities to handle condensate for prospective future projects.

The vessel will support storage and offloading of liquid hydrocarbons at the terminal, including crude oil and condensate produced from various fields in Papua New Guinea, with the associated gas directed to the PNG LNG Project.

This is an LNG facility with a production capacity of more than 8.3 MMmt/year, which ExxonMobil PNG operates in partnership with Santos, ENEOS Xplora, Kumul Petroleum Holdings and Mineral Resources Development Co.

MISC will allocate the construction of the FSO to its Malaysia Marine and Heavy Engineering Holdings division.