Alam Maritim Resources Bhd’s (AMRB) wholly-owned subsidiary Alam Maritim (M) Sdn Bhd (AMSB) has been awarded a contract for the provision of 18-inch diameter shore approach pipeline installation work by a local oil and gas services company.
The installation work is for SKO Pipeline Replacement Project.
In a filing to Bursa Malaysia, it said the 30-day contract, slated to commence in mid-August, is estimated at RM50 million on a lump sum basis.
The contract includes two optional scopes of work covering partial commissioning and rock dumping at additional lump sum prices of RM0.91 million and RM6.82 million, respectively.
“The contract is expected to positively contribute to the earnings and net assets of AMRB for the financial year ending Dec 31, 2012,” it added. — Bernama