MISC secures US$441mil long-term charter contracts from HESS

KUALA LUMPUR: MISC Bhd has secured a long-term charter contract worth US$441mil from Hess Exploration and Production Malaysia BV for the lease of a floating, storage and offloading facility (FSO) known as FSO Mekar Bergading on a bareboat basis.

In a filing with Bursa Malaysia, MISC said the contract was pursuant to a sale and charter agreement in respect of the FSO between HESS and MISC, which resulted in MISC acquiring ownership of the FSO from HESS.

“Pursuant to the contract, the FSO will be leased by HESS for a period of 16 years with an estimated contract value of US$441mil. The charter will commence latest by Sept 1, 2018,” MISC said.