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KUALA LUMPUR, April 21 -- Malaysia Marine and Heavy Engineering Holdings Bhd’s (MHB) wholly-owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) has secured a contract from SapuraOMV Upstream (Sarawak) Inc, valued at RM1 billion.
In a filing with Bursa Malaysia today, it said the contract was awarded on March 19, 2021 for the provision of engineering, procurement, construction, transportation & installation and hook-up & commissioning services (EPCIC) for the SK408W Jerun Development Project, offshore Sarawak.
Duration for the contract is 40 months where the company would undertake the construction of a 15,000-metric tonne (MT) topside, 10,000 MT jacket and 5,000 MT piles of a Central Processing Platform (CPP).
The contract is expected to contribute positively to the earnings and net assets per share of MHB for the financial years ending Dec 31, 2021 onwards until the expiry of the contract.