Contract for Jerun development project valued at RM1b


In its exchange filing, MHB said the duration of the contract in the Jerun gas field was 40 months.(File pic shows MMHE yard.)

PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) says the engineering, procurement, construction, transportation and installation, and hook-up and commissioning services (EPCIC) contract from SapuraOMV Upstream (Sarawak) Inc is worth RM1bil.

The disclosure yesterday followed the group’s announcement last week that its wholly-owned unit Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) had secured the EPCIC contract for the SK408W Jerun development project, offshore Sarawak.

In its exchange filing, MHB said the duration of the contract in the Jerun gas field was 40 months.

Under the contract, the group would undertake the construction of an approximately 15,000-tonne topside, 10,000-tonne jacket and 5,000-tonne piles of a central processing platform.

Sapura OMV Upstream (Sarawak) is the operator of SK408W Block, with Sarawak Shell Bhd and Petronas Carigali Sdn Bhd holding 30% equity interest each.

MHB’s share price closed 1.5 sen lower at 57 sen yesterday.

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