MISC Bhd (KL:MISC) has secured a contract extension for its FPSO Ruby II offshore Vietnam, allowing operations to continue until Dec 31, 2027.
The extension was awarded by Vietnam National Industry – Energy Group (Petrovietnam) to Vietnam Offshore Floating Terminal (Ruby) Ltd (VOFT), a joint venture 40% owned by MISC and 60% by PetroVietnam Technical Services Corporation (PTSC). The contract covers the lease, operation, and maintenance of the vessel.
FPSO Ruby II has been operating in Blocks 01 & 02 offshore Vietnam since achieving first oil in June 2010. The Aframax-sized vessel has a production capacity of 39,000 barrels per day. The extension includes life-extension works such as equipment replacement and refurbishment.
MISC president and group CEO Zahid Osman said the contract renewal reinforces the group’s long-standing partnership with Petrovietnam and PTSC, while supporting its strategy of generating stable cash flow from existing assets through safe and reliable operations.
At the midday break on Monday, MISC shares rose four sen, or 0.5%, to RM8.10, valuing the company at RM36.16 billion.
