Malaysia’s national upstream company Petronas has kicked off the tender process for a floating production, storage and offloading vessel for the standalone development of its Bestari deep-water oilfield offshore Sabah, East Malaysia.

Petronas has been aiming to develop some of its key deep-water fields on the back of improved oil prices and market fundamentals, but the state giant shied away from taking the final investment decision on crucial projects including Limbayong, for which the process to charter a floater was shelved on multiple occasions.