KUALA LUMPUR (April 21): Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) disclosed today that the value for the engineering, procurement, construction, transportation and installation, and hook-up and commissioning services (EPCIC) contract secured from SapuraOMV Upstream (Sarawak) Inc is RM1 billion.

The duration of the contract in the Jerun gas field, which lies in the SK408W block off the coast of Bintulu, is 40 months, MHB added in a bourse filing.  

The group had announced the contract — awarded to its wholly-owned unit Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) — last Thursday.

The contract comprises the construction of a 15,000-tonne topside, 10,000-tonne jacket and 5,000-tonne piles of central processing platform.

Sapura OMV Upstream (Sarawak) is the operator of SK408W Block, with Sarawak Shell Bhd and Petronas Carigali Sdn Bhd holding 30% equity interest each.

MHB's share price fell 1.5 sen or 2.56% to 57 sen, valuing the group at RM912 million. The counter saw 1.21 million shares traded.