This would break the industry sector’s 2016 duck as projects have failed to get off the drawing board in light of the protracted oil price slump.
The two FPSO projects that could yet see the light of day before year-end are Repsol’s Ca Rong Do off Vietnam and the Husky-China National Offshore Oil Corporation (CNOOC)-operated MDA-MBH project in Indonesia.
The Ca Rong Do floater is a two-horse race between Malaysia’s Bumi Armada while Husky-CNOOC is reviewing bids after launching a retender for the MDA-MBH gas floating production unit.
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