Ramunia hits $88m payday
Upstream
29 January 2007

Malaysia's Ramunia Fabricators has won a 308 million ringgits ($88 million) contract for platform construction work on the Block B-17 gas project in the Malaysia-Thailand joint development area.

Ramunia told the Kuala Lumpur stock exchange its work scope would comprise engineering, procurement, construction and commissioning of the four wellhead platforms and jackets, and the procurement construction and load-out of the eight-legged jacket for the central processing platform.

The contract will contribute positively towards Ramunia's earnings for the financial years 2007 to 2009, said the company.

Carigali-PTTEP Operating Company (CPOC) is the 50:50 joint operating company between Malaysia's Petronas Carigali and Thailand's PTTEP that owns block B-17.

The project aims to deliver first gas at a rate of 270 million cubic feet per day in October 2009, with an option of up to 470 MMcfd between 2010 and 2012 if more reserves are proven.

A major contract is due to be awarded for the CPP topsides weighing some 17,000 tonnes being bid by Samsung Heavy Industries, J Ray McDermott, SMOE and Ramunia.