RANHILL Utilities Bhd’s indirect subsidiary, Perunding Ranhill Worley Sdn Bhd (PRW), has been awarded a RM15 million contract to perform detailed engineering design for the Rosmari-Marjoram gas project off the coast of Bintulu, Sarawak.
Malaysia Marine and Heavy Engineering Holdings Bhd’s wholly-owned unit, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), had on Oct 5, 2022, awarded the contract to PRW, which is principally involved in the provision of engineering and design services of oil and gas facilities.
Ranhill said the six months contract was secured through a competitive bidding process.
The Rosmari-Marjoram gas project platform once completed will be installed in a water depth of 140m within the SK318 area.
This unmanned platform will be primarily powered by renewable energy which will utilise power from solar panels. With a design life of 20 years, it will cater to up to 800 million standard cu ft of gas per day with a start-up targeted in 2026 supplying natural gas to the Petroliam Nasional Bhd (Petronas) liquefied natural gas (LNG) Complex in Bintulu, Sarawak.
The contract spanning over six months is expected to contribute positively to the revenue and earnings of Ranhill for the financial year ending Dec 31, 2023.
Ranhill’s share price finished down 1.15% to 43 sen, valuing it at RM557 million. — TMR / pic source Ranhill’s Facebook