Barakah Offshore Petroleum's unit gets LOA from Petronas
Published on: Wednesday, December 09, 2015
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Kuala Lumpur: Barakah Offshore Petroleum Bhd's unit, PBJV Group Sdn Bhd, has received a Letter of Award (LoA) from Petronas Gas Bhd to repair and maintain the Sabah-Sarawak Gas pipeline.In a filing to Bursa Malaysia Tuesday, Barakah said the scope of the LoA included inspection, testing, repair and maintenance of the pipes and related infrastructures to maintain the pipeline integrity.

The company said the LoA's duration is from Dec 1 2015 until Nov 30, 2017, with an option to extend for an additional year.

"The value of the LOA will depend on the number of work programmes to be carried out in the duration of the contract based on unit rates specified.

"The contract is expectedto contribute positively towards the earnings and net assets per share of Barakah Group for its duration," it said.

The Sabah-Sarawak Gas Pipeline is a 503-kilometre network of onshore pipeline that links Sabah Oil and Gas Terminal in Kimanis, Sabah, and the Petronas LNG Complex in Bintulu, Sarawak. – Bernama


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