Gunanusa wins EPCI contract from PTTEP
Friday, September 16 2016 - 02:11 PM WIB
SGX-listed Federal International (2000) Ltd announced Friday that its associate, PT Gunanusa Utama Fabricators (PTG), has received a Letter of Intent to Award (LOI) from PTTEP International Limited (PTTEPI) relating to the engineering, procurement, construction and installation (EPCI) of two offshore wellhead platforms, associated pipelines and tie-ins for the Zawtika Development Project Phase 1C.
Federal said in a statement that the value of the project (Lot 1) is about US$155 million and the project is expected to take 19 months to complete. Under the LOI, PTTEPI has the option to award Lot 2 for additional platforms to PTG on or before July 31, 2017. The value of Lot 2 is expected to be of the same amount as Lot 1.
The statement said that the Federal group has signed a procurement agreement with PTG to provide procurement and other ancillary support services to PTG for the project. The project increases the group?s current order book to about S$90 million. The group has an interest of 20.66 percent in PTG.
PTG has built a reputation as a reliable and one of the leading heavy engineering and steel fabrication companies in Indonesia with an excellent track record for turnkey execution of oil and gas projects.
PTG's main forte is in the fabrication of all kinds of oil & gas platforms. It's fabrication yard is ideally located at the western tip of the island of Java with a relatively calm water-front and a maximum low-to-high tidal variation of a mere 0.6m making it ideal for the load-out of long slender structures. The main yard has an area of 18 hectares and 800m water front equipped with two load-out jetties.
Editing by Reiner Simanjuntak