Kuala Lumpur: TH Heavy Engineering Berhad’s 80% owned subsidiary Floatech has received a letter of award from JX Nippon Oil & Gas Exploration (Malaysia) for the provision of Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) and leasing of the floating production storage and offloading (FPSO) Deep Producer 1 for the Layang Development Project, located in Block SK10, offshore Sarawak, Malaysia.
The nine-year charter has a one-year extension option and is worth a minimum of $372m. [19/05/14]
