Malaysia’s shipping giant MISC Berhad (MISC), an owner and operator of offshore floating and energy-related maritime solutions and services, has unveiled – what it deems to be – the world’s first future-ready newbuild floating production storage and offloading (NBFPSO) vessel at the Offshore Technology Conference (OTC) in Houston.
MISC reported on Tuesday, 2 May 2023, that the NBFPSO vessel would use the mega-module topsides and incorporate sustainable technologies into the design, making it “one of the largest and greenest NBFPSOs in the market.” According to the Malaysian player, the NBFPSO, known as mega-module engineering and green architecture (MMEGA), capitalises on its innovative mega-module topsides that minimise interfaces and improves system integration.
Furthermore, it is expected to reduce the overall engineering, procurement, construction, installation and commissioning (EPCIC) schedule while optimising the capital expenditure. With combined cycle power generation and an all-electric drive, the MMEGA has the potential to reduce CO2 emissions by nearly 40 per cent, says MISC. With high production capacity and longer field life, MMEGA is based on modern fifth-generation FPSOs for deepwater and ultra-deepwater fields.
Capt. Rajalingam Subramaniam, MISC President and Group CEO, remarked: “MMEGA represents MISC’s solution to the offshore industry’s current and future needs. The design, which was 24 months in the making, demonstrates our continued commitment to developing innovative solutions that are both eco-efficient and economically viable. Leveraging on proven sustainable technologies, the MMEGA has the potential to reduce the CO2 emission intensity by up to 40 per cent per barrel of oil extracted, for a much-needed energy solution for the world.
“This would make MMEGA one of the greenest FPSOs in the world. We are confident that the improved design and construction flexibility of MMEGA will generate maximum economic value for our customers by reducing project costs and timelines. We look forward to sharing the solution and building greater synergy with like-minded partners to decarbonise the energy value chain and achieve society’s aspiration for a just energy transition”.
Moreover, MISC believes that MMEGA is poised to be “one of the world’s largest and greenest FPSOs” that incorporates proven sustainable solutions including an all-electric drive for compression system, gas for reinjection and closed flare with combined cycle power generation system. The MMEGA has been granted with Approval-in-Principle (AiP) and the SUSTAIN -1 notation by the American Bureau of Shipping (ABS) in recognition of its innovative and sustainable features.
The Malaysian giant further explains that the MMEGA comprises a double-sided single-bottom hull and has been engineered to accommodate eight topsides mega-modules, with a riser balcony at the port side that can hold up to 51 riser slots. The vessel is designed as a spread-moored FPSO with a design life of 35 years.
MISC highlights that the topsides process and utility systems can process 225,000 bopd, 424 MMScfd of gas with 250,000 bpd of water injection and treat up to 60 mol% CO2 in the well stream. In addition, the MMEGA is capable of storing 2 million bbls of oil and offloading 1 million bbls of oil in 24 hours.
MISC has been putting the wheels into motion to bring its long-term business strategy and sustainability aspirations to life. To this end, the Malaysian player entered into a $527 million sustainability-linked loan in April 2023 to finance six very large ethane carriers (VLECs).