is operating a joint venture between Technip and Petronas in the construction and linkage of a high-tech platform, the Magtymguly Collector Riser (MCR-A), offshore Turkmenistan.
said that the second contract is the procurement, construction, hook up and commissioning contract for the Besar A well head platform and its jacket as well as the associated host tie-in work for Petronas Carigali Sdn Bhd.
Established in 1973, MMHE
is involved in a wide spectrum of oil and gas engineering and construction works.
made a significant breakthrough in its business focus by making a strategic shift towards the oil & gas industry and high value added marine repairs, which included the undertaking of several Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) projects.
As part of the Group's value adding strategy, MISC has expanded into the offshore business as well heavy engineering through MMHE.
MMHE will focus on the development of the Group's technical capabilities and technological base and help position Malaysia as the region's hub for deepwater support services and maritime repairs.
MMHE s lower operating profit for its offshore segment takes into account that the newly secured Malikai TLP project has yet to recognize any profit due to its early stage of progress and provisions for higher expected costs for an ongoing project.
MMHE said it continues to actively participate in tenders for prospective offshore development projects both in domestic and regional market.
The Malikai TLP will be constructed and commissioned at MMHE
s fabrication yard at Pasir Gudang in Johor, Malaysia.