PETALING JAYA: MISC Bhd has secured two contracts from Exxon Mobil Corp with an estimated combined contract value of US$711 million (RM2.98 billion).
The group said in a filing with the stock exchange that its vessel-owning entities Polaris LNG One Pte Ltd and Polaris LNG Two Pte Ltd had signed two time charter parties (TCPs) with Exxon Mobil’s wholly-owned subsidiary SeaRiver Maritime LLC for the time charter of two newbuild liquefied natural gas carriers for operations in international waters.
Pursuant to the TCPs, the vessels will be chartered by SeaRiver for a firm period of 15 years.
MISC said the charters for the vessels are expected to commence in the first quarter of 2023. The vessels will be constructed by Samsung Heavy Industries of Korea.
SeaRiver, a limited liability company formed in Delaware, US, provides a wide range of technical and commercial marine services to ExxonMobil affiliates throughout the world.
At the midday break, MISC’s share price gained 10 sen or 1.25% to RM8.08 on 3.29 million shares done.