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Events / MISC Secures PNG FSO Contract with ExxonMobil
Business FSO contract

MISC Secures PNG FSO Contract with ExxonMobil

Analysis based on 9 articles · First reported Feb 10, 2026 · Last updated Feb 19, 2026

Sentiment
60
Attention
4
Articles
9
Market Impact
Direct
Live prominence charts, article sentiment distribution, and event development timeline available on the NewsDesk Dashboard
Market Impact

The market is positively impacted by MISC Berhad's new long-term contracts, ensuring stable revenue and expanding its offshore portfolio. This development also supports the PNG LNG Project's operations, benefiting its shareholders and the energy sector in Papua New Guinea.

Oil and gas Maritime Engineering
Event Summary

MISC Berhad has secured long-term Bareboat Charter and Operations & Maintenance contracts with ExxonMobil PNG Limited, a subsidiary of ExxonMobil, for Papua New Guinea's first Floating Storage and Offloading (FSO) unit. The contracts, with a firm 15-year charter and options for an additional 15 years, mark MISC Berhad's entry into Papua New Guinea's offshore market. The FSO will be deployed at the Kumul Marine Terminal as part of the Kutubu Pipeline System, playing a critical role in storing and offloading liquid hydrocarbons for the PNG LNG Project. The project, operated by ExxonMobil PNG Limited, involves partners such as Santos Limited, ENEOS Xplora Inc., Kumul Petroleum Holdings Limited, and Mineral Resources Development Company Limited. The FSO, with a 30-year operational lifespan and 800,000 barrels storage capacity, is scheduled for deployment in the first half of 2028. This venture leverages MISC Berhad's integrated capabilities, including support from MISC Berhad===Malaysia Marine and Heavy Engineering Holdings Berhad, and aligns with its 'Delivering Progress' strategy.

Key Actions
100 MISC Berhad secured long-term Bareboat Charter and Operations & Maintenance contracts ExxonMobil
100 ExxonMobil awarded long-term Bareboat Charter and Operations & Maintenance contracts MISC Berhad
90 MISC Berhad entered Papua New Guinea's offshore market Papua New Guinea
60 MISC Berhad===Malaysia Marine and Heavy Engineering Holdings Berhad will provide engineering and construction support MISC Berhad
Entities Involved
stock
MISC Berhad
MISC Berhad secured long-term contracts for Papua New Guinea's first FSO unit, marking its entry into the country's offshore market and expanding its portfolio. This venture is expected to provide substantial long-term revenue visibility and supports its Delivering Progress strategy.
Importance 100 Sentiment 70
stock
ExxonMobil
ExxonMobil PNG Limited, a subsidiary of ExxonMobil, awarded long-term contracts to MISC Berhad for an FSO unit, which will be critical for the PNG LNG Project's operations. This partnership reinforces ExxonMobil's commitment to the region's energy development.
Importance 90 Sentiment 20
priv
PNG LNG Project
The PNG LNG Project will benefit from the new FSO unit, which will store and offload liquid hydrocarbons, ensuring continued and efficient operation of the facility with a production capacity of over 8.3 million tonnes per annum.
Importance 80 Sentiment 40
cnt
Papua New Guinea
Papua New Guinea will host its first offshore floating facility, the FSO unit, which will play a critical role in the storage and offloading of liquid hydrocarbons for the PNG LNG Project, supporting the nation's long-term energy development.
Importance 70 Sentiment 30
subs
MISC Berhad===Malaysia Marine and Heavy Engineering Holdings Berhad
MISC Berhad===Malaysia Marine and Heavy Engineering Holdings Berhad (MHB), as MISC Berhad's Marine & Heavy Engineering arm, will leverage its engineering and construction strength to deliver the FSO project, contributing to MISC Berhad's integrated capabilities.
Importance 60 Sentiment 50
per
Zahid Osman
Zahid Osman, President & Group CEO of MISC Berhad, highlighted the significance of securing Papua New Guinea's first FSO as a milestone for MISC Berhad and an extension of its partnership with ExxonMobil.
Importance 50 Sentiment 0
stock
Santos Limited
Santos Limited holds a 39.9% participating interest in the PNG LNG Project, and the new FSO unit will support the project's operations, indirectly benefiting Santos Limited's investment.
Importance 30 Sentiment 10
+ 3 more entities View on Dashboard
Relationships
MISC Berhad related ↔ ExxonMobil
ExxonMobil related ↔ PNG LNG Project
Santos Limited related ↔ PNG LNG Project
ENEOS Holdings related ↔ PNG LNG Project
Kumul Petroleum Holdings Limited related ↔ PNG LNG Project
Mineral Resources Development Company Limited related ↔ PNG LNG Project
MISC Berhad===Malaysia Marine and Heavy Engineering Holdings Berhad related ↔ MISC Berhad
Zahid Osman related ↔ MISC Berhad
MISC Berhad related ↔ Papua New Guinea
MISC Berhad related ↔ PNG LNG Project
+ 2 more relationships View on Dashboard
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