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KUALA LUMPUR (April 1): Alam Maritim Resources Bhd has bagged a US$59 million (RM240mil) contract for the procurement, construction and installation of a pipeline system.

The contract is for the Tembikai Non Associated Gas (TNAG) development by Vestigo Petroleum Sdn Bhd, a wholly-owned subsidiary of Petronas Carigali Sdn Bhd.

“The TNAG pipeline system will be installed from the new TNAG unmanned wellhead platform via a 60 km, 12” pipeline and fibre optic control cable.

“The rigid pipeline will be the first in offshore Malaysia installed using mechanical connectors, and specifically the NOV Tuboscope Zap-Lok connection and tied to existing processing facilities on Berantai FPSO and the Well Head Platform with flexible risers connected to the rigid pipeline with diverless connections,” Alam Maritim said in a filing today.

The duration of the contract is from March 5 until completion of the work, which is expected in the fourth quarter of this year.

Alam Maritim’s share price closed unchanged at 11.5 sen, for a market capitalisation of RM106.31 million.

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