Malaysia’s MISC has announced that its joint venture company has secured a contract extension for the FPSO Ruby II in Vietnam.
The contract covers the lease, operation, and maintenance of the vessel until December 31, 2027.
The deal was awarded by Petrovietnam to Vietnam Offshore Floating Terminal, a 40-60 JV between MISC and PTSC.
The FPSO will continue to operate in Blocks 01 & 02 offshore Vietnam, where it has been producing since achieving first oil in June 2010.
The unit was converted from an aframax tanker and has a production capacity of 39,000 boepd. The contract includes life-extension work such as equipment replacement and refurbishment.
Since the start of operations, the FPSO has had an uptime of 99.88% and completed 236 offtake operations, resulting in exports of over 68.5m barrels of oil.
“As MISC’s first offshore asset in Vietnam, FPSO Ruby II has been instrumental in establishing our presence and strengthening long-standing partnerships with Petrovietnam and PTSC,” said Zahid Osman, president and CEO of MISC.
