The Petroleum Technical & Services Joint Stock Corporation (PTSC) and its Malaysian joint venture partner - the International Shipping Corporation Sdn Bhd (MISC), an affiliate of the Malaysia National Oil Group (Petronas) - has named 'FPSO Ruby II' for a floating production storage and offloading (FPSO) facility for crude oil in Malaysia .
This event marks a milestone in strengthening co-operation between the Vietnamese and Malaysia oil sectors.
According to PTSC, the project includes steps from the design, purchase, construction to the trial run, operation and maintenance of the FPSO Ruby II. The Petronas Carigali Vietnam Limited Company (PCVL) won the contract to hire the FPSO.
The 8-year project has a total investment of over US$280 million
FPSO Ruby II has a maximum capacity of 645,000 barrels. It is able to export 20,000 barrels of oil an hour.
To manage the operation of FPSO Ruby II, PTSC and MISC have established a joint venture called “Vietnam Offshore Floating Terminal” (VOFT) with 60% of its capital owned by PTSC.