E.A. Technique wins RM53.76mil contracts from Petronas Floating

KUALA LUMPUR: E.A. Technique (M) Bhd has secured two contracts totaling RM53.76mil from Petronas Floating LNG 1 (L) Ltd (PFLNG1).

In a filing with Bursa Malaysia, EA Technique said its wholly owned subsidiary, Libra Perfex Precision Sdn Bhd had been awarded a contract by PFLNG1 for the term contract for emergency standby vessel (ESV) services.

The contract duration will be for a primary period of two years which shall commence in November 2022 with two years extension upon expiry thereof at PFLNG1’s option.

The first contract is valued at RM12.7mil for the duration of two years (excluding the option period).

The company will be using the existing vessels to serve the above contract.

EA Technique said the second contract valued at RM41.06mil was for the provision of tugboat services for PFLNG1.

It said the second contract duration is for a fixed term of two years with an option to extend by an additional two years upon expiry thereof and at PFLNG1’s discretion at an agreed fixed schedule of rates.

The fixed term of two years will commence in November 2022.