OceanSTAR Elite Secures FPSO Sepat Project From PETRONAS Carigali

OceanSTAR Elite (“OSE”) is pleased to announce that its group of Company in Malaysia, OceanSTAR Engineering Holding Sdn Bhd (“OceanSTAR”) has successfully entered into a long-term contract with PETRONAS Carigali Sdn. Bhd. (“PCSB”) for the Provision of Lease, Operation and Maintenance of a Floating Production Storage and Offloading (“FPSO”) unit.

The contract comprises a 15-year firm charter period with extension options, supporting the PCSB Sepat Integrated Redevelopment Project, located offshore Terengganu, Peninsular Malaysia.

OceanSTAR will undertake the full engineering, procurement, construction, installation and commissioning (“EPCIC”) of a new-build FPSO hull and all related topside facilities. The hull is the third unit based on OceanSTAR’s AiP-approved standardized hull design, OSE GH200 – “Generic Hull”, developed under the “Design-One, Built-Many” concept.

The FPSO is being developed for the Sepat Field Redevelopment in Block PM313 and will be a spread-moored unit operating in approximately 70 meters of water depth, capable of processing a minimum of 30,000 barrels of liquid per day. The facility will be equipped with advanced gas injection, gas lift, and future water injection systems to ensure efficient and sustainable production.

This project represents one of the first new built FPSO developments contracted by PETRONAS for deployment offshore Malaysia, marking an important milestone in OceanSTAR’s continued growth and capability development. It reflects the company’s ability to deliver full-scope, integrated floating production solutions, covering the entire project lifecycle from design and construction through to long-term leasing, operation and maintenance.

The project is progressing steadily and is currently in the detailed engineering phase, with critical long-lead equipment being secured. The OceanSTAR project team in Kuala Lumpur continues to work in close collaboration with the PCSB team to ensure successful project execution.

OceanSTAR extends its sincere appreciation to PETRONAS Carigali for the trust placed in the company and looks forward to working closely together to ensure the successful delivery and long-term operation of the Sepat FPSO.

About PETRONAS Carigali Sdn. Bhd.
PETRONAS Carigali Sdn. Bhd. (PCSB) is the exploration and production subsidiary of Petroliam Nasional Berhad (PETRONAS), Malaysia’s national oil and gas company. PCSB is responsible for managing and operating upstream oil and gas activities both domestically and internationally, covering exploration, development and production of hydrocarbon resources.

About OceanSTAR Engineering Holding Sdn Bhd
OceanSTAR Engineering Holding Sdn Bhd is a core operating entity within the OceanSTAR Elite Group of Companies (“OSE”), primarily responsible for providing engineering design services as well as long-term lease, operation and maintenance solutions for FPSO, FSO and FPU projects in Malaysia.

For more information, visit www.oceanstarelite.com.