Singapore?s Federal gets additional cash from procurement contract at Peciko project

Singapore-listed engineering and procurement specialist Federal International (2000) Ltd said Friday that the value of the procurement awarded to its subsidiary, Federal Hardware Engineering Co Pte Ltd, had increased from US$29.2 million to US$33.8 million.

As previously reported, Federal has appointed by its strategic partner, PT Gunanusa Utama Fabricators, to be the procurement agent with regard to its Peciko Field Development Project Phase 4 for Totalfinaelf E&P Indonesie.

Under the terms of the contract, Federal will supply all flowline control products, piping materials and structural steels for two satellite wellhead platforms. This contract runs for 20 months from October 2002 to June 2004.

The Peciko field is located in the prolific Kutai basin in water depths of around 40 meters. It currently supplies more than 250 millions of cubic feet per day gas to Bontang LNG plant. An estimated 6 trillion cubic feet reserves are present in the field. (robert)