Alam Maritim wins $13 million contract

Malaysian investment company Alam Maritim reported on Friday that its subsidiary recently entered into a $13 million subcontract with Petronas Floating LNG 1, a subsidiary of Malaysia’s national oil company Petronas.

Alam Maritim will be responsible for undertaking engineering, procurement, installation and related activities for the floating LNG offshore works – mooring system installation.

The contract began on May 20 and is expected to finish on September 15, 2015, Alam Maritim announced at the local stock exchange Bursa Malaysia on Thursday.

The Petronas floating LNG 1 unit is currently being constructed by Daewoo Shipbuilding & Marine Engineering, a South Korean shipbuilding company, at their shipyard in Okopo, South Korea.

The unit is scheduled to be completed in the fourth quarter of 2015.

Once completed, the unit will be deployed to the Kanowit gasfield, located 178-kilometres offshore Sarawak. It will be moored at the location and is estimated to produce around 1.2 million tonnes of LNG per year.

For more news and features from Malaysia, click here.