MISC Berhad received a five-year extension of the FPSO Espirito Santo lease contract
MISC Berhad would like to share that on 7 December 2020, Brazilian Deepwater Production BV (BDP BV) and Operações Maritimas em Mar Profundo Brasileiro Ltda (OMMPB), a wholly owned subsidiary of Brazilian Deepwater Production Contractors Limited (BDPC), joint venture companies between SBM Holding Inc. S.A (SBM) and MISC Offshore Holdings Sdn. Bhd. (MOHB), entered into agreements with Shell Brasil for five (5) years’ extension of the lease, operation and maintenance contracts for the FPSO Espirito Santo located in the Campos Basin for the BC-10 field, offshore Brazil.
The initial contracts were entered by the companies with Shell Brasil in 2006 with expiry date of December 2023. With the extension, the duration of the contracts will be extended until December 2028.
SBM owns 51% of equity in BDP BV and BDPC respectively, whilst MOHB owns 49% of equity in each of the companies.
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