OTHERS MMHE Awarded EPCIC Contract for SK408W Jerun Development Project, Offshore Sarawak
MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | MMHE Awarded EPCIC Contract for SK408W Jerun Development Project, Offshore Sarawak |
Reference is made to the Malaysia Marine and Heavy Engineering Holdings Berhad’s (“MHB” or “the Company”) announcement dated 13 April 2021 in relation to the Press Release entitled MMHE Awarded EPCIC Contract for SK408W Jerun Development Project, Offshore Sarawak.
1. Introduction
The Board of Directors of MHB wishes to further announce that it has received approval to announce that its wholly-owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (“MMHE”) had secured a contract from SapuraOMV Upstream (Sarawak) Inc. via a Letter of Award dated 19 March 2021 for the provision of engineering, procurement, construction, transportation & installation and hook-up & commissioning services (EPCIC) for the SK408W Jerun Development Project, offshore Sarawak (“Contract”).
2. Salient Terms
The salient terms of the Contract are as follows: a) To undertake the construction of an approximately 15,000-metric tonne (MT) topside, 10,000 MT jacket and 5,000 MT piles of a Central Processing Platform (CPP). b) The duration of the Contract is approximately 40 months. c) The value of the Contract is approximately RM1 billion.
3. Financial Effect
The Contract will not have any effect on the share capital and shareholding structure
4. Risks
Risk factors affecting the Contract include execution risks, weather conditions and/or political, economic, operational and commercial impacts of COVID-19. Notwithstanding the risk factors, MMHE has established a successful track record in undertaking similar projects.
5. Director’s and Major Shareholders’ Interest
None of the directors or major shareholders of MHB or persons connected to them has any interest, direct or indirect, in the Contract.
This announcement is dated 21 April 2021. |
Announcement Info
Company Name | MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD |
Stock Name | MHB |
Date Announced | 21 Apr 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-21042021-00094 |