Federal joins hands with CMIH on RI oil and gas projects
Friday, April 21 2017 - 01:14 AM WIB
Courtesy of Federal
SGX-listed Federal International (2000) Limited, an integrated service provider and procurement specialist in the oil and gas, energy, utilities and infrastructure industries, announced Thursday the signing of an MOU between CMIH and the group. Under the MOU, the group and CMIH will co-operate exclusively on certain identified oil and gas projects in Indonesia.
CMIH is a wholly-owned subsidiary of the China Merchants Group, a leading state-owned China conglomerate headquartered in Hong Kong engaged in businesses encompassing energy, transportation, marine engineering, finance, and real estate. CMIH is a well-established engineering, procurement, construction, installation and commissioning (EPCIC) contractor, and its capabilities include the design and construction of offshore drilling vessels, specialized vessels, and vessel conversions. Its track record includes newbuild 400ft jack-up drilling rig Haiheng CJ50-1 for Tianjin Haiheng Shipbuilding & Offshore Engineering Service, and the conversion of the FPSO Cyrus Overall.
Commenting on the signing of the MOU with CMIH, Koh Kian Kiang, Executive Chairman and CEO of Federal, said in a statement: ?The group is pleased that CMIH has chosen it as its partner as CMIH seeks to expand its presence in Indonesia. Through the group?s strong business ties and network in Indonesia, the group and CMIH expect to secure oil and gas projects in the country.?
Editing by Reiner Simanjuntak