MISC reports steady growth in the global FPSO market amid increased offshore activity and new contracts. In the second quarter of 2026, operating profit rose by 56.1%, while revenue increased by 76.1%.
A new floating production, storage, and offloading unit (FPSO) is planned to be installed at Malaysia’s Kikeh field, replacing the outdated platform. The project is being carried out by a consortium from India and Malaysia, with commissioning expected after 2028.
Samsung Heavy Industries will build Malaysia's first floating LNG storage and regasification terminal, which will provide additional gas for power plants and strengthen the country's energy infrastructure. The RGT-3 facility in Lumut is expected to be operational in the second quarter of 2029.