Barakah Offshore Petroleum’s unit awarded job worth RM38.2mil

KUALA LUMPUR: Barakah Offshore Petroleum Bhd’s wholly-owned subsidiary, PBJV Group Sdn Bhd, has been awarded the 2016 work scope in SKO Field, Sarawak, valued at RM38.2mil. 

In a filing with Bursa Malaysia on Wednesday, the company said the work scope involved the transportation and installation of 10 riser guards to seven platforms in SKO Field over four months.

“The work is expected to contribute positively towards the earnings and net assets per share of Barakah Group for the duration of the scope work,” it said. 

It also said risk factors affecting the work scope include, but not limited to, execution risks such as availability of skilled manpower and materials and changes in prices of materials. 

“Barakah Group has, throughout the years, established its track record and expertise to undertake such projects. 

“As such, the management of Barakah Group believes that it is able to mitigate the above mentioned risk factors,” it added. - Bernama