Petronas Awards Pipeline Contracts

11 January 2010 (Last Updated January 11th, 2010 18:30)

Malaysian state oil firm Petronas will award a US$104m (MYR350m) oil and gas pipeline contract to Global Industries unit Global Offshore Malaysia this month. The contract work involves the erection of oil and gas pipelines between platforms throughout Malaysia. Malaysia's Kenc

Malaysian state oil firm Petronas will award a US$104m (MYR350m) oil and gas pipeline contract to Global Industries unit Global Offshore Malaysia this month.

The contract work involves the erection of oil and gas pipelines between platforms throughout Malaysia.

Malaysia's Kencana Petroleum, which will acquire a 45% interest in Global Offshore Malaysia, is expected to take part of the contract, which is one of five orders by Petronas.

Last month, Petronas awarded three orders valued at $449m (MYR1.5bn) to SapuraCrest Petroleum's subsidiary TL Offshore.

Eleven companies, which have production-sharing contracts with Petronas in Malaysia, were also awarded the contract, which entails the transportation and installation of offshore oil and gas facilities and structures until 2012.

Petronas is expected to award the fifth order to Target Resources in the next two to three weeks, according to Reuters.