Barakah Offshore Petroleum Berhad stated that its wholly owned subsidiary – PBJV Group Sdn Bhd (PBJV) – received a Letter of Award (LoA) from PETRONAS Gas Bhd (PGB). The award is to provide repair and maintenance services for the 312 mile (503 km) Malaysian Sabah Sarawak Gas Pipeline.
The two year contract – from 1 December 2015 to 30 November 2017 – will see PBJV inspecting, testing and repairing pipes to maintain pipeline integrity. The company also has the option to extend the contract for an additional year.
In a filing to Bursa Malaysia, Barakah stated: “The value of the contract will depend on the number of work programmes to be carried out for the duration of the contract based on unit rates specified in the contract. It is expected to contribute positively towards the earnings and net assets per share of Barakah Group for the duration of the contract.”
Edited from various sources by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/14122015/pbjv-receives-award-to-repair-and-maintain-sabah-sarawak-gas-pipeline/