BUSINESS

CARIMIN PETROLEUM, EVOLUSI FORM JV TO BID FOR PETRONAS' PAN-MALAYSIA TENDER

24/11/2023 07:59 PM

KUALA LUMPUR, Nov 24 (Bernama) -- Carimin Petroleum Bhd's wholly-owned subsidiary, Carimin Engineering Services Sdn Bhd (CESSB), has entered into a joint-venture agreement (JVA) with Evolusi Bersatu Sdn Bhd (Evolusi) to jointly bid for tenders for Petronas’ Pan-Malaysia projects.

The tender involves offshore maintenance, construction, modification (MCM) and hook-up and commissioning (HUC) services.

The Pan Malaysia integrated offshore installation contract covers domestic upstream oil and gas offshore transportation and installation activities.

In a Bursa Malaysia filing today, Carimin Petroleum said the JV provides for a strategic partnership based on respective competency to undertake such tenders, which would pave well with CESSB’s intention to expand its core competency.

It said the purpose of the JVA is to cooperate and participate throughout the bidding process and, if the bid is successful, throughout the period of the anticipated contract by Petronas.

“The parties, therefore, agree to work together on an exclusive basis, to cooperate and use their combined skills, knowledge, experience, and resources to bid for the tenders, jointly prepare and submit a tender, negotiate and be awarded, execute and perform a profitable contract.

“The JVA will be terminated in Dec 2024 if Petronas has not awarded the contract by then unless extended by the parties in writing,” it added.

-- BERNAMA

 

 


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