Malaysian company Genting Group has signed an accord worth almost $1 billion with Chinese floating liquefied natural gas specialist Wison New Energies for a floating LNG production unit to be deployed offshore Indonesia.
Genting said that the contract price was $962.8 million and involved its wholly owned indirect subsidiary Genting Oil & Gas and another subsidiary, PT Layar Nusantara Gas (PTLNG) of Indonesia.
The engineering, procurement, construction, installation and commissioning (EPCIC) contract with Chinese company Wison was for an FLNG hull with 1.2 million tonnes per annum of output.
Genting, whose conglomerate spans oil and gas and power throughout Asia as well as plantations and leisure, said the FLNG facility was destined for Indonesia’s West Papua region.
The company added that Wison would construct the FLNG hull at its shipyards in Nantong and Zhoushan in eastern China.
“After passing the yard performance test, the FLNG facility shall be towed to its final destination located at Teluk Bintuni in West Papua, where the final commissioning test will be carried out,” Genting stated.
Genting explained that feed-gas for the LNG production would come from the Asap, Merah and Kido natural gas fields within the Kasuri gas block concession.
Genting’s President and Chief Operating Officer, Tan Kong Han, said that the group’s oil and gas subsidiary had enjoyed “very significant success” and encountered hydrocarbons from exploratory drilling in its West Papua gas block.
