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Alam Maritim picks up $8m FPSO demobilisation job

Alam Maritim picks up $8m FPSO demobilisation job
Alam Maritim Resources has won a MYR34m ($7.6m) contract to demobilise the FPSO vessel Perisai Kamelia.

The company said in a stock market announcement that its unit Alam Maritim (M) Sdn Bhd had been appointed as a subcontractor for demobilisation works, with an additional scope for water treatment at a provisional sum of approximately MYR1m.

Troubled Malaysian FPSO and jack-up rig player Perisai Petroleum Teknologi partially owns the FPSO Perisai Kamelia, which had been operating on three year plus options contract offshore Peninsula Malaysia since 2013. It recently secured a six-month contract extension from operator Hess E&P till the end of May.

Alam Maritim said that the contract is expected to contribute positively to the earnings and net tangible assets of the company for the financial year ending 31 December 2017.

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