Singapore?s Federal secures US$20.9m contract for Tunu field development project phase 9

SGX Mainboard-listed Federal International (2000) Ltd (Federal), an integrated engineering and procurement specialist supporting the energy and infrastructure sectors in the region, announced Thursday that its subsidiary, Federal Hardware Engineering Co Pte Ltd (FHE) had clinched a procurement and logistics contract worth S$36.42 million or about US$20.9 million from two Indonesian contractors ? PT Astinaputera and PT Transmega Ekacipta Corp (collectively referred to as Astina-TEC).

?FHE was appointed by Astina-TEC to be the exclusive agent to handle the procurement, project management, logistics and engineering management for TotalFinaElf Indonesie's Tunu Field Development Project Phase 9 located in East Kalimantan,? Federal said in a statement.

Federal said under the terms of the contract, Federal would provide project management services and supply mechanical materials, mechanical engineering packages, electrical and instrumentations. Effectively, this scope of supply has created a quantum leap for FHE in terms of project and engineering management, which is crucial to any engineering procurement and construction (EPC) project.

According to Federal, this contract runs for approximately 18 months from March 2003.

"This latest contract win is significant as we managed to secure it based on our track record amidst strong competition. It re-affirms the robust outlook of the regional energy sector as well as Federal's leading position in the EPC sector. This is the first time we are partnering Astina-TEC and we hope to work together to participate in the numerous business opportunities offered by the oil and gas industry in Indonesia," said K. K. Koh, Federal's Executive Chairman and CEO. (robert)