Dyna-Mac wins offshore contracts worth $131.4 mln

Singapore

SINGAPORE, April 26, 2022 – Dyna-Mac Holding has secured two contracts each worth around USD 65.7 million for offshore engineering and repair work, the Singaporean offshore module construction company announced on Monday.

The first contract involves an increased work scope on an ongoing FPSO topside module fabrication project. Completion of the work is now expected in Q3 2023.

The second contract is for repair, refurbishment and reactivation of a mobile offshore tender-assisted drilling rig. When finished in June 2022, the module will be deployed in the Gulf of Thailand.

Names of the clients were not released.

The new contracts raise Dyna-Mac Holding’s net order bookings to USD 336 million to date.

The company has also signed two alliances through its subsidiary Dyna-Mac Engineering Services.

The first is a consortium agreement with Malaysia Marine and Heavy Engineering to jointly bid on international projects.

The second is a co-operation agreement with MAN Energy Solutions Switzerland to jointly bid and execute any projects requiring packaging activities. It also details collaboration on services, marketing and technology development, including carbon capture, utilisation and storage.

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