ABS benefits from expanding offshore sector in Malaysia
- Business & Finance
According to Clarkson Research, production offshore Malaysia averaged 700,000 barrels per day of oil and 6 billion cubic feet per day of natural gas in 2013, accounting for 24 percent and 23 percent of offshore oil and gas production respectively in Asia-Pacific – more than any other single country in the region.
ABS holds more than 20 percent of the market share in the Pacific marine and offshore orderbook and 35 percent of the market share in Malaysia. In 2013, ABS delivered two converted liquefied natural gas floating storage units for MISC Berhad’s developments offshore Malacca, completed approval in principle review for the PFLNG 2 Project and maintained an active offshore and subsea equipment certification service in Malaysia. Entering 2014, ABS is strengthening its position and service delivery in this growing energy economy.
Malaysia’s SapuraKencana Petroleum Bhd. has selected ABS to class its first semisubmersible tender assisted drilling unit, KM-3, which is under construction at the company’s local Lumut yard. Based on Frigstad Engineering’s T70 design, the semisubmersible tender rig is the largest of its kind, with a displacement of approximately 30,000 dwt. Expected delivery is scheduled for 2015.
ABS is classing Shell’s Malikai tension leg platform, Malaysia’s third deepwater project after the Kikeh and Gemusut developments. The Malikai oil field is situated in the northern area of Block G, offshore Sabah, Eastern Malaysia, in the South China Sea. The TLP will be installed in approximately 1,640 ft (500 m) water depth and will be tied back to the Kebabangan shallow-water hub gas processing facility.
The Malikai’s processing capacity will be 60,000 b/d of liquids and 50 million standard cubic feet of gas. The work scope calls for ABS to provide design review as well as fabrication and installation surveys for the hull, topsides, tendons and piles in accordance with the requirements of ABS Rules and Guides for the floating offshore installation notation. The anticipated completion date is 2015.
Thomas Tan, ABS Regional Vice President, Southern Pacific, notes that as the offshore market continues to expand and evolve in the Asia-Pacific region, the demand for new design and high specification units is increasing. “ABS is a trusted industry partner across the region, reputable for its consistent, quality service delivery and helping clients achieve greater asset optimization.”