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DNeX renames FPSO for Avalon Development

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KUALA LUMPUR: Dagang Nexchange Berhad (DNeX), via its subsidiary Ping Petroleum UK PLC, has renamed its recently acquired floating production storage and offloading (FPSO) vessel to Excalibur.

Group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the FPSO is now renamed Excalibur ahead of its deployment at the Avalon Development.

“We are proud to be the new asset owner and ready to progress in our maiden greenfield upstream project, starting on a clean slate in line with DNeX’s and Ping’s growth strategies. Representation from DNeX being present at the event demonstrates the group’s continued commitment in this project. DNeX and Ping are upbeat about the prospect of Avalon

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Development,” he said in a statement.

Zainal said the next step is to retrofit the FPSO with electrification capability, supported by a dedicated floating offshore wind turbine that is purpose-built for the Avalon’s requirement.

“The Excalibur can set the benchmark for a greener upstream operation with the deployment of a wind turbine technology that powers the entire production facility. This is a significant milestone for the Avalon Development and timely as we progressively move forward with the energy transition,” he said.

Ping took delivery of the FPSO from the marine energy transportation company, Teekay Corporation, in early July this year.


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