Malaysia’s Tanjung Offshore Secures Contract Extension for PM3-CAA Oilfield Services

Malaysia’s Tanjung Offshore has recently announced that it has been awarded a contract extension by Hibiscus Oil & Gas for maintenance, construction, and modification services on the PM3-CAA oilfield. This extension will see Tanjung Offshore continue its services until mid-December this year, following the initial contract that was signed in December 2024.

While specific financial details of the contract extension were not disclosed, Tanjung Offshore’s board has expressed confidence that this new agreement will have a positive impact on the company’s earnings and net assets for the financial year ending December 31, 2025.

The PM3 Commercial Arrangement Area, where the services will be carried out, consists of three Malaysian Production Sharing Contracts (PSCs) and one Vietnamese PSC. These PSCs cover several producing fields, including Bunga Orkid, Bunga Pakma, Bunga Raya, Bunga Seroja, Bunga Kekwa, Bunga Tulip, Bunga Lavatera, and Bunga Aster.

These fields are developed using fixed platforms with gas pipelines connecting to Peninsular Malaysia and Vietnam, while oil is exported via the FSO Orkid and FSO PM3 CAA.