KUALA LUMPUR: Muhibbah Engineering Bhd, via a consortium, has accepted a RM322 million project award from Petronas Carigali Sdn Bhd related to the Gansar Project, 190 kilometres offshore Terengganu.
In a filing with Bursa Malaysia, the oil and services provider said the 22-month contract would involve the provision of engineering, procurement, construction and commissioning plus installation (EPCC+1) of Light Weight Structure (LWS), Duyong Brownfield Modification and Host Tie-In services for the Gansar Project.
"The contract is expected to contribute positively to the earnings and net assets of the Muhibbah group for the current and future financial years. The contract does not have any impact on the share capital and shareholding structure of Muhibbah.
"The contract is within the normal ordinary business scope of Muhibbah group, so it is not expected to expose the group to any new risks other than those through its existing businesses," it said. - Bernama