Federal Hardware secures US$8 million procurement contract

Federal Hardware Engineering Co Pte Ltd of Singapore (FHE) has secured a US$8 million contract with PT Gunanusa Utama Fabricators to supply materials and services to TotalFinaElf E&P Indonesie's Peciko gas field Development Project Phase 3 PCK3/EPSC 1-satellite wellhead platform.

Under the contract, which will last for a period of 15 months commencing April 23, 2001, FHE will supply all materials and services required for the project, the company said in a press statement issued recently.

This contract is the second contract secured by FHE in a period of 3 months.

FHE had earlier signed another contract worth US$ 2 million in January 2001 with Gunanusa to supply all piping materials and fittings, structural steel and rolled cans and miscellaneous items for Total Indonesie's Tunu Phase 8 project for compression platform located in East Kalimantan, Indonesia.

"We are delighted with winning this contract as it once again demonstrates our strengths in procurement and servicing in the oil and gas industry. Securing this contract is also a barometer of our growth prospects and the robust growth of the industry," said Mr KK Koh, Federal's Executive Chairman and CEO.

Federal is principally involved in the distribution of flowline control products (including valves, structural steel, steel flanges/connectors and pipefittings) to the oil and gas, power, chemical and pharmaceutical industries. (*)