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MISC through Vietnam Offshore Floating Terminal (Ruby) Ltd. (VOFT), has secured a contract for the FPSO Ruby II with Vietnam National Industry - Energy Group (Petrovietnam). 17 February 2026
The contract covers the lease, operation, and maintenance of the floating production, storage, and offloading (FPSO) unit until 31 December 2027, thereby extending the operation of FPSO Ruby II, which has been operating in Blocks 01 & 02 offshore Vietnam since achieving first oil in June 2010. As MISC's first offshore asset in the country, the FPSO has played a foundational role in establishing the Group's presence and reputation in Vietnam's energy sector. This contract reflects FPSO Ruby II's outstanding operational performance and deep trust established with Vietnam's energy partner. MISC and PetroVietnam Technical Services Corporation (PTSC) hold 40 per cent and 60 per cent equity interests in VOFT, respectively. 
FPSO Ruby II. Image by MISC Berhad.
MISC President and Group CEO, Zahid Osman said "This contract, which extends the operation of FPSO Ruby II, is a strong endorsement of VOFT's operational excellence, safety performance and ability to deliver sustained value from mature offshore assets. As MISC's first offshore asset in Vietnam, FPSO Ruby II has been instrumental in establishing our presence and strengthening long-standing partnerships with Petrovietnam and PTSC. This aligns with MISC's disciplined asset management strategy to secure stable cashflows from existing assets, while reflecting our broader Delivering Progress commitment to creating long-term value through safe, reliable and responsible operations." PSO Ruby II is an Aframax-sized vessel designed with a production capacity of 39,000 barrels of oil per day. The contract includes life-extension work such as equipment replacement and refurbishment, ensuring continued compliance with stringent safety requirements and the highest standards of operational excellence throughout the contract period. It reflects VOFT's proven expertise in managing complex offshore brownfield assets and executing life-extension programmes safely and reliably. About MISC Berhad MISC Group is an international maritime conglomerate with more than 55 years of experience in the dynamic maritime industry. Our extensive global footprint allows us to deliver a wide range of solutions that cater to various areas within the maritime-related energy value chain. At the heart of MISC Group's success is our modern and diversified fleet of vessels and floating assets, complemented by the expertise of our diverse global workforce at sea and shore. As a future-focused organisation, we are committed to leading from the front, propelling the maritime industry into the future, and achieving society's aspiration for a just energy transition. For more information, visit https://www.miscgroup.com About PetroVietnam Technical Services Corporation (PTSC) PetroVietnam Technical Services Corporation (PTSC), a member of Vietnam National Industry - Energy Group (PetroVietnam or PVN), with the solid foundation and the tradition of more than 50 years, going through more than 50 years of establishment, merger, equitization and transformation, PTSC has gradually developed, enhanced its position and become a leading corporation in Vietnam - a big name in the sector of technical services for oil & gas industry and other industries in the region. PTSC's core businesses are to provide technical services for oil & gas, energy and industrial sectors in which the strategic core services have been professionalized up to international standard, such as: EPCIC for offshore facilities, EPC for industrial plants, FSO/FPSO, offshore supply vessels, geological and subsea surveys, installation, operation and maintenance of offshore facilities, port & supply base; offshore renewable energy and technical manpower supply. For more information about PTSC, visit https://www.ptsc.com.vn MISC Berhad press release 
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