PTT Exploration and Production has awarded a lengthy contract extension for the lease of the floating production, storage and offloading vessel on its Kikeh oilfield offshore Sabah, Malaysia.
The FPSO Kikeh’s charter contract is extended for six years beginning in January 2022 until January 2028, said Malaysia's MISC, which owns the floater in a joint venture with SBM Offshore.
FPSO Kikeh is located on the Kikeh field in Block K offshore Sabah. Built in 2007, the FPSO is the first and largest deep-water FPSO in Malaysia and Asia, according to MISC.
The FPSO can produce 120,000 barrels of oil per day and has a storage capacity of two million barrels of oil.
PTTEP has a 56% working interest in Kikeh, and smaller interests in two other producing assets in Block K - Siakap North-Petai and Gumusut-Kakap.
Average production in Block K in the first nine months of 2021 net to PTTEP was 24, 000 barrels per day of oil and 25 million cubic feet per day of gas.