ConocoPhillips to retender provision of LPG-FSO for Belanak field

U.S oil, gas firm ConocoPhilips will retender the provision of an LPG-FSO vessel for its Belanak gas field in Natuna Sea Block B in South China Sea as the current tender only attracted one bidder, senior official of oil and gas upstream sector regulator BPMIGAS said.

Initially, the tender attracted two bidders, that is the consortium of Malaysia?s M3nergy Bhd-Pertamina Tongkang consortium and the consortium of Norwegian firm BW Offshore-PT Energy Consulting Indonesia.

However, BPMIGAS vice chairman Hardiono told Petromindo.Com on Thursday that the M3nergy Bhd-Pertamina Tongkang consortium failed to submit their bid until the submission deadline of Aug. 10, 2010.

He did not give details.

The vessel will have capacity to process 500 MMCFD of raw gas, 100,000 BPD of oil and 23,000 BPD of LPG.

In a tender announcement in 2009, ConocoPhillips said the vessel will be leased under a Time Charter contract of fifteen years with two annually renewable options to extend the the contract to 2028. (bernard)