EPCICEngineering, Procurement, Construction, Installation & Commissioning (contract)
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MITC will provide PETRONAS with the basic design package and cost estimate of the best FLNG unit with technical and economic advantage based on MODEC group's rich EPCIC and operation experiences of Floating Production systems including mooring system technology, IHI's substantial experiences in offshore and shipbuilding and its unique and reliable LNG storage (IHI-SPB tank) technology, TOYO and CB&I's experiences in highly efficient topside plant engineering and fabrication.
Given that EPCIC work is contract driven, the group has to constantly bid for new jobs to sustain its top line, albeit the portion of this contract-based income is smaller with more recurring income from its drilling business.
8 Jul 09, 2008: Flex LNG And Samsung Sign LoI To Enter Into EPCIC Contract For LNG Production Topside 97
The schedule for the EPCIC of the Ophir platform will see the platform installed in the field in the third quarter of 2016.
SHI") is the EPCIC contractor for LNGP1, while Kanfa Aragon, a Sevan Marine subsidiary, is the Engineering & Procurement contractor for the topsides facilities of LNGP1 for SHI.
It is the first time for a Chinese company to undertake a FSRU project under an EPCIC contact.
The latter involves a full suite of EPCIC services for eight new platforms and associated pipelines for the development of a new offshore gas field, with Phase I expected to be completed by the second quarter of 2016 and Phase II, for the first quarter of 2017.
The platform is currently being constructed under an EPCIC contract awarded to Hyundai Heavy Industries of South Korea.
Muhibbah have announced that the consortium has received the letter of award for the EPCIC contract from Regas Terminal (Sg Udang) Sdn Bhd, a unit of Petronas Gas Bhd.
According to the group, the contract includes work on EPCIC of a floating storage and offloading (FSO) facility for Full Field Development (FFD) project.
The deal includes a full suite of EPCIC services for 8 new platforms and associated pipelines needed to grow new offshore gas field situated in South Asia.
The project includes a full suite of EPCIC services for 8 new platforms along with related pipelines necessary facilitating development of a new offshore gas field located in South Asia.