The Petroleum Technical & Services Corporation (PTSC) is joining with a Malaysian company to build a floating production storage and offloading (FPSO) facility for crude oil in Malaysia.

According to PTSC, the facility, FPSO Ruby II, costing over 280 million USD, is a joint venture with the Malaysian International Shipping Corp. Sdn Bhd (MISC), an affiliate of the Malaysia oil giant-Petronas.

The 8-year project covers everything from design, construction, and performing test runs to operation and maintenance.

The Petronas Carigali Vietnam Limited Co. (PCVL) won the contract to hire the FPSO.

FPSO Ruby II was transformed from a crude oil vessel containing a maximum of 645,000 barrels. The 244.8m-long, 41.2m wide storage has a capacity of over 100,000 tonnes.

To manage the operation of FPSO Ruby II, PTSC and MISC have established a joint venture named “Vietnam Offshore Floating Terminal” (VOFT) with 60 percent of its capital owned by the Vietnamese company.

According to PTSC, the FPSO will be put into use in early 2010./.