The Cash-Maple FLNG project is related to the exclusive license owned by PTTEP on the offshore blocks AC/RL7, AC/P54 and AC/RL14 in the Australian territorial waters of the Timor Sea680 kilometers west of Darwin and 200 kilometers southeast of the Indonesia coast line.
Located in the Browse Basin by 130 meter water depth and lying by 4,135 meters total depth, the Cash-Maple gas field is made of eight different reservoirs.
But since PTTEP contracted the first pre-FEED study to SBM and Linde, PTTEP invested $1.8 billion capital expenditure to acquire Cove Energy (Cove) and their share in the Rovuma Basin offshore Mozambique on the East coast of Africa.
This battle in the stock exchange with Shell to take over Cove had some impact on PTTEP for the financing of the other projects.
SoPTTEP is now interested in a solution where the awarded team should design, build, own and operate the FLNG.
In this new context, no sure that SBM and Linde should move further, offering the opportunity to Hoegh LNG, KBR and DSME to step in the FEED contract.
Hoegh LNG owns and operates a fleet of LNG carriers for 40 years and is looking for opportunities to scale up its expertise with floating LNG services.