KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd
's wholly owned subsidiary Malaysian Marine and Heavy Engeering Sdn Bhd has secured a contract from Carigali-PTTEP Operating Company Bhd to provide wellhead platforms and subsea pipelines for the Joint Development Area Field Development Project.
In a filing, the group said the scope of work of the contract is to undertake the engineering, procurement, construction and installation (EPCI) of five wellhead platforms, namely ADC, ADD, ADE, JKC and JKD, including the works on associated subsea pipelines and telecommunication upgrade for JDA Field Development Project (Phase 6) located in the Malaysia-Thailand Joint Development Area.
The contract, which has a value of about RM1.4bil, will run for about 22 months.
"The contract is expected to contribute positively to the earnings and net assets per share of MHB for the financial year ending Dec, 31, 2023, onwards until the completion of the contract.
