Singaporean contractor OceanStar Elite has been awarded the contract for a newbuild floating production, storage and offloading vessel for Petronas Carigali's Sepat Integrated Redevelopment Project offshore Malaysia.

Project and Contract Details

The contract is for the full engineering, procurement, construction, installation and commissioning of the FPSO, destined for the Sepat field in Block PM 313, offshore Terengganu. The field has been producing for over a decade. The award includes a firm 15-year charter period with extension options. This project is noted as one of the first newbuild FPSO developments contracted by Petronas for deployment offshore Malaysia.

Technical Specifications and Construction

The spread-moored FPSO will operate in approximately 70 metres of water depth. It will be capable of processing a minimum of 30,000 barrels per day of liquids and will be equipped with advanced gas injection, gas lift, and future water injection systems. The hull will be the third unit based on OceanStar's standardised OSE GH200 design. Construction will take place at a yard in Nantong, China, with an expected construction phase of 21 months. The project is currently in the detailed engineering phase, with critical long-lead equipment being secured.

Project Execution and Broader Development

OceanStar's project team in Kuala Lumpur is working closely with the operator. The company stated the award reflects its ability to deliver full-scope, integrated floating production solutions covering the entire project lifecycle. The broader Sepat redevelopment project also includes two new wellhead platforms (Sepat-B and Sepat-C) to be built by Muhibbah Engineering, and a network of subsea pipelines. Muhibbah's EPC contract is expected to be completed by the first quarter of 2029.