Samos Energy has signed a new bareboat charter agreement with Medco Asia Pacific Limited for the West Desaru MOPU, securing a four-year firm term with options that could extend the unit’s deployment offshore Peninsular Malaysia to nine years.
The agreement was signed through Samos Energy subsidiary FPF005 Limited and became effective on 23 September 2026. It includes five additional one-year extension options after the initial four-year period. The West Desaru MOPU will remain deployed at the West Desaru field under the Cendramas Production Sharing Contract.
The new contract follows Heads of Terms agreed between the parties in May. Samos Energy’s earlier announcement outlined the same four-year firm period and five one-year options, with the new charter scheduled to begin in September 2026.
The charter became effective on the same date that Medco Energi began operating the new Cendramas PSC. Medco Asia Pacific Limited signed the 20-year production sharing contract with PETRONAS on 31 March 2026, with the PSC taking effect on 23 September.
Medco holds a 50% participating interest and serves as operator. DIALOG Resources and EnQuest Petroleum Production Malaysia each hold 25%.
The Cendramas area is located about 140 km offshore Peninsular Malaysia and covers approximately 680 sq km in water depths of around 70 m. It includes four producing oil fields: Cendor, East Cendor, West Desaru and Irama. Medco’s FY2025 materials reported production of around 7,000 barrels per day from the area.
The matching effective dates place the West Desaru MOPU charter in effect from the first day of Medco’s operatorship under the new Cendramas PSC. The unit therefore remains under charter at West Desaru as the new 20-year PSC begins.
For Samos Energy, the agreement secures four years of firm employment for the West Desaru MOPU. If all five extension options are exercised, the total charter period could reach nine years.
