MISC will pay SBM Offshore US$103.2 million for its share of the 255,000-dwt floating production, storage and offloading vessel, although the amount will be adjusted either downward or upward if the completion date is before or after 12 May 2006, respectively.
Brazilian state oil company Petrobras and Bank Negara Malaysia must approve the deal.
SBM said previously the deal will strengthen the two companies' existing partnership.
