Malaysian national oil company Petronas has received only one bid in its latest attempt to procure a floating production, storage and offloading vessel for the Limbayong project offshore Sabah, East Malaysia.

The bid for the FPSO contract was submitted by a consortium comprising Malaysia’s MTC and India’s Shapoorji Pallonji Oil & Gas (SP Oil & Gas).

The offer is being evaluated by Petronas, but multiple market sources expressed doubt whether MTC and Shapoorji would be awarded the contract given political complexities and question marks about the economics of the FPSO.