The pandemic has put a halt into much of the industry's progress, and MTC's was no exception to this. However, it seems that the tides are finally changing.
MTC has successfully secured the bid for its third FPSO development and first FPSO project outside of Malaysia - FPSO Forel for Forel Field in South Natuna Block B, Indonesia. The project is contracted to a Consortium between MTC Engineering, PT Hanochem Tiaka Samudera and PT Cakra Bahana. After a lengthy bid throughout the majority of last year, it was clear that the Consortium will be the contractor of choice for client Medco E&P.
Effective 17th March 2022, the Consortium will begin to work on the FPSO for delivery within 21 months. It will be chartered to the client and operated by the Consortium for 5 years with option to extend. The production capacity for the FPSO will be designed for 10,000 bopd and 43 MMscfd.
Currently, our Project Management Team personnel for FPSO Forel is stationed in Jakarta with the Consortium partners. The Kick-Off Meeting (KOM) was held last Thursday to officialize the project.
MTC Engineering has been specializing in FPSOs since its inception, securing consultancy works for operators around the world and even developing two of its own FPSOs for Malaysian waters - Nautica Muar and MTC Ledang. MTC's engineering capabilities and specialty in the field has been proven time and time again with cost-effective, fast-track and all-encompassing solutions. MTC was the only privately held company in the world to own an FPSO, and now will add a third to the list. The successful delivery of FPSO Forel will be further proof of the accolades and milestones the company has achieved throughout its 12 years.
Concurrently, MTC and partner S.P. Engineering Services is the sole bidder for Petronas Carigali's Limbayong FPSO project, its first deepwater development off the coast of Sabah