PetChem appoints Barakah Offshore as panel contractor

KUALA LUMPUR: Petronas Chemicals Group Bhd (PetChem) has appointed Barakah Offshore Petroleum Bhd’s unit PBJV Group Sdn Bhd as a panel contractor for construction works to be performed at PetChem subsidiaries.

In a filing with Bursa Malaysia, Barakah said the contract covered a two-year period, with an option for one year extension, and the job was to be awarded based on bidding.

“It involves assisting Project Engineering Centralised Services or individual plant owner in undertaking procurement, construction, installation and commissioning work for plant modification and improvement projects throughout PetChem operating units in Peninsular Malaysia,” the company said.

The job scope for PBJV, an offshore and onshore contracting services provider, is generally, but not limited to, 15 work areas. Among them are civil/structure/building; mechanical and piping installation; electrical installation; instrumentation and control system; insulation; and material management.

Barakah said the total value of the contract would depend on the actual work orders to be issued by PetChem from time to time during the contract period. 

The company said the contract was expected to contribute positively towards the earnings and net assets per share of the Barakah group.

Barakah shares closed unchanged on Wednesday at 67 sen with 1.155 million shares traded.