WIKA consortium wins $183m contract from Chevron
Tuesday, June 12 2012 - 01:32 AM WIB
A consortium led by publicly-listed PT Wijaya Karya (WIKA) has won a US$182.98 million engineering, procurement and construction (EPC) contract from PT Chevron Pacific Indonesia, the country?s largest oil producer.
The consortium, which includes WIKA, PT Inwha Indonesia and PT Singgar Mulia, will work on the North Dun Development (NDD) area 13, which is part of Chevron?s Duti oil field in Sumatra.
The construction would cover mechanical, piping, electrical, instrumentation and. other civil work, WIKA said in a statement sent to the Indonesia Stock Exchange.
?The project will be carried out within 30 months,? the statement said.
Meanwhile, Chevron, according to its website, said it was expecting that the expansion of NDD area 13 would begin by mid-2012 with startup scheduled for 2013.
WIKA holds the greatest stake in the consortium, $146 million, equal to 80 percent of the total NDD area 13 development project.
WIKA corporate secretary Natal Argawan said that the Chevron deal brought the total value of the firm?s contracts to Rp 7 trillion as of Monday. The company, along with its subsidiaries, booked Rp 5.6 trillion in contracts as of the end of May.
Natal said that the company expected to reap an additional Rp 1 trillion in contracts by the end of the month, to meet this year?s target of Rp 16.5 trillion, up 35 percent from last year?s Rp 12.2 trillion.
According to Natal , the company would bid on various government, private sector and overseas projects.
?We are waiting for projects in Algeria , other Middle East countries and Southeast Asia . There are projects that we are seeking by ourselves, through consortiums and by cooperating with state-owned enterprises;? Natal said.
Editing by Reiner Simanjuntak