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MISC to monetise 50% of new Mero 3 FPSO

MISC Bhd is expected to monetise its Mero 3 floating production, storage and offloading (FPSO) asset by offering a 50% equity stake when the vessel is ready.

MISC will potentially decide on the equity partners after the vessel is converted from the existing very large crude carrier (VLCC) Bunga Kasturi Dua.

The conversion is slated to be done by the second half of 2024.

Kenanga Research, in a report, said MISC was adamant on completing delivery of the project on its own, seeing this as an opportunity to demonstrate its technical capabilities.

“Given the multiple years of building blocks put in place prior to the contract win, management seems confident in its capabilities of successful project delivery and execution of the Mero 3 FPSO (to be named Marechal Duque de Caxias).
Source: The Star

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