Barakah wins Sabah Sarawak Gas Pipeline contract

KUALA LUMPUR: Barakah Offshore Petroleum Bhd has received the letter of award from Petronas Gas Bhd (PGB) for the provision of repair and maintenance of Sabah Sarawak Gas Pipeline.

It said in its filing with Bursa Malaysia that its subsidiary PBJV Group Sdn Bhd received the letter of award. 

The Sabah Sarawak Gas Pipeline is a network of onshore pipeline that link Sabah Oil and Gas Terminal in Kimanis, Sabah and Petronas LNG Complex in Bintulu, Sarawak. 

The length of the pipeline is 503km. The scope of the contract includes inspection, testing, repair and maintenance of the pipes and related infrastructures to maintain the pipeline integrity.

Barakah said the contract is for two years from Dec 1, 2015 until Nov 30, 2017. PGB has the option to extend the contract for an additional year. 

“The value of the contract will depend on the number of work programmes to be carried out for the duration of the contract based on unit rates specified in the contract. It is expected to contribute positively towards the earnings and net assets per share of Barakah Group for the duration of the contract,” it said. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business

Ringgit opens higher as US keeps policy status quo
IJM Corp shares inch up on 15 sen dividend plan
How courage has led a local pet store to digitalise and thrive
Blue chips inch higher but record high Covid cases may check gains
Spotlight on Malaysian businesses: Riding out the pandemic storm by adapting to business changes
Kenanga upgrades Bursa to 'outperform', lowers target price
Trading ideas: IJM Corp, Bioalpha, Rhone Ma, Mercury, Glomac, Gadang
Powell says Fed likely to taper asset purchases 'at the same time'
Houston man pleads guilty in scheme to sell US$317 mln bogus masks to Australian state
Fed establishes standing repo facilities to support money markets

Stories You'll Enjoy