Two contractors pooling resources for offshore oil & gas engineering projects
Singapore-based offshore engineering contractor Oceanstar Elite Group (OEG) and Indonesia’s Synergy Engineering Group (SEG) have entered into a memorandum of understanding (MOU) to establish a joint venture (JV) for offshore oil and gas engineering projects.
This strategic collaboration is seen as a way to enable the two players to leverage their respective strengths and expertise in the evaluation and the future pursuit and development of energy and other projects in the world.
OceanSTAR Elite and Synergy Engineering are joining forces to provide the full scope of engineering solutions for FPSO, FLNG, FPU, semi-submersible, and tension leg platform oil and gas projects, including topside modules and hull and marine engineering targeting international clientele.
The agreement between the two companies is expected to pave the way for the duo to collectively share their manpower resources and explore potential collaboration in relation to technical and operational aspects of upstream oil and gas engineering projects. In addition, it would allow them to jointly evaluate and consider potential acquisitions and other new business opportunities that both players consider to be of interest.
OceanStar Elite has been busy in Indonesia last year, through its JV with Timas Suplindo, which is known as Timas Oceanstar Indonesia (TOI). The firm worked on the hookup of the FPU Trunojoyo 01, which was completed in September 2022 and the first gas was achieved in the fourth quarter of 2022. This FPU was constructed in China with a design capacity of 175 million cubic feet per day (MMcf/d).
The FPU Trunojoyo 01, which was made for the Madura satellite fields (M satellite fields) –MDA, MBH and MDK fields – in the Madura Strait, has a length of 160 meters and a width of 32 meters. These fields are operated by Husky CNOOC Madura Limited (HCML), a joint operating company between CNOOC (40 per cent); Husky Energy (40 per cent).
Currently, OceanStar Elite is working on FPSO and FSO projects for Yinson, MISC, BW Offshore, and SOECHI.