Petrofac,
which
bought
the
production
rig
from
Oceaneering
last
September,
has
renamed
the
rig
FPF5
and
upgraded
it
too.
Petrofac
said
the
field
development
plan
for
West
Desaru
in
Block
PM304
was
approved
by
the
Malaysian
authorities
last
month.
"We
intend
to
accelerate
the
development
of
this
fault
block
by
introducing
an
early
production
system"
in
the
shape
of
the
FPF5,
with
first
oil
planned
in
the
fourth
quarter
of
2012.
Ultimately,
the
oil
from
West
Desaru
will
be
produced
through
a
new
floating
production,
storage
and
offloading
vessel
which
will
be
located…
