Buana Listya upbeat on securing two FPSO projects
Tuesday, September 20 2011 - 02:37 PM WIB
The two FPSO projects are valued at between US$260 million to US$380 million, company President Director Henrianto Kuswendi said.
?We are confident of winning the two FPSO projects. They are in the final stages,? Henrianto told Petromindo.com on the sideline of the 12th Annual FPSO Congress 2011 in Singapore.
The two FPSO projects are being offered by Petrochina for its Salawati field in Papua and by Malaysia's Petronas for its Bukit Tua oil and gas field off East Java.
The Salawati FPSO unit will have capacity to produce and storage oil of 260,000 barrels. The value of the project is between $60 million to $80 million.
Meanwhile, the Bukit Tua FPSO vessel, which has a capacity of 700,000 barrels of oil, is valued at between $200 million to $300 million.
?The Salawati FPSO unit is now in the final stage. We?re now waiting for the approval from BPMigas,? said Henrianto, referring to the upstream oil and gas regulator.
He added should Buana Listya win the Salawati FPSO project, the FPSO vessel will be delivered six months after the announcement. He expects the winner of the Salawati FPSO project will be announced by the end of this year.
Buana Listya is competing with a number of foreign companies in bidding for the two FPSO projects, including M3Energy of Malaysia and Tanker Pacific of Singapore.
Henrianto said he expected the winner of the Bukit Tua FPSO project would be announced around November-December this year. If Buana Listya wins the project, the FPSO unit will be delivered in 2013.
Buana Listya, which owns and operates one FPSO, is currently the only local company that owns and operates FPSO in Indonesia. All other FPSOs, totaling over 20 units in Indonesia, are owned and operated by foreign companies. (roffie)