Technics Oil bags compressor equipment leasing from Vico
Monday, July 2 2007 - 07:24 PM WIB
Singapore Exchange-listed firm Technics Oil & Gas Limited on Monday announced that its Joint Operation in Indonesia, PT. Promatcon Tepatguna J.O., has secured a leasing contract from Vico Indonesia for the supply, operation and maintenance of 3 units of gas compressor equipment.
The contract is valued at more than S$4 million, based on the agreed tenure of two years. It will be worth an additional S$1.8 million, if the option of extending the tenure by another year is exercised, the company said.
The contract is expected to commence upon the delivery and start-up of the gas compressor equipment at the jobsites by November 2007.
Vico Indonesia is a joint venture company between BP and Eni. Vico is the operator of the Sanga Sanga PSC, which had been producing gas to feed Bontang LNG plant since 1972.(alex)