Alam Maritim secures RM241 million contract

PETALING JAYA: Alam Maritim Resources Bhd has bagged a US$59 million (RM241 million) contract for the provision of engineering, procurement, construction, installation and pre-commissioning of pipeline system for Tembikai Non Associated Gas (TNAG) Development by Vestigo Petroleum Sdn Bhd.

The duration of the contract is from March 5, 2019 until completion of the work, which is targeted for completion in Q4’2019.

The TNAG pipeline system will be installed from the new TNAG unmanned wellhead platform via a 60km, 12” pipeline and fibre optic control cable.

The rigid pipeline will be the first in offshore installed using mechanical connectors and specifically the NOV Tuboscope Zap-Lok connection, tied into existing processing facilities on Berantai floating production storage and offloading, and the well head platform with flexible risers connected to the rigid pipeline with diverless connections.

“The contract is expected to contribute positively to the earnings and net tangible assets of the company for the ending Dec 31, 2019,” Alam Maritim said.

Source: The Sun Daily

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