Ranhill Utilities' indirect subsidiary receives contract worth RM43mil

KUALA LUMPUR: Ranhill Utilities Bhd’s indirect subsidiary, Perunding Ranhill Worley Sdn Bhd (PRW), has received a letter of award (LOA) from PTTEP HK Offshore Ltd for the provision of front-end engineering design (FEED) services for offshore facilities for SK410B Lang Lebah Development in Sarawak worth RM43 million.

PRW is 49 per cent-owned by Ranhill Utilities’ subsidiary Ranhill Worley Sdn Bhd (RWSB).

In a filing with Bursa Malaysia today, it said the contract and the scope of works under the contract for the project would be undertaken by RWSB following a service agreement dated July 12, 2002 between PRW and RWSB whereby both parties agreed for the exclusive appointment of RWSB by PRW to perform services in respect of all projects awarded to PRW in Malaysia.

It said this included, but not limited to, the provision of design and engineering technical services and know-how.

Ranhill Utilities said PRW’s offering for Lang Lebah capitalised on its integrated organisation, which includes in-house multidiscipline engineering coupled with specialised services and subject matter experts.

It said PRW provided a capable, skilled and experienced local team augmented with subject matter experts from RWSB.

"Duration of work is 8 months, commencing from the date of kick-off meeting on July 22 2022.

"The project is expected to contribute positively to the revenue and earnings of Ranhill Utilities for the financial year ending Dec 31, 2022,” it added.

PRW is principally involved in the provision of engineering and design services of oil and gas facilities. - Bernama

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