TH Heavy Engineering Bags Services Contract for Project Offshore India
Malaysia's TH Heavy Engineering, in a consortium with Afcon Infrastructure and Technip KT India, has been handed a contract from India's state-owned Oil & Gas Natural Gas Corp to provide procurement and fabrication services for a process platform in the Heera Redevelopment Project (HRD).
The contract – worth $289.5 million – also stipulates that the consortium will be responsible for the load-out of the substructure, offshore India's west coast. TH Heavy Engineering's share in the project is estimated to be around $41 million.
"It is a one-off contract and the scheduled completion date for the contract is Apr.20, 2015," TH Heavy Engineering said in a disclosure late Wednesday.
ONGC had earlier in May this year issued a public tender for the project, which closed on Aug.16, 2012.
The Heera field – located 50 miles (80 kilometers) West of Mumbai in the Arabian Sea – has been earmarked by India's Ministry of Petroleum & Natural Gas as one of the fields which will be developed using enhanced oil recovery techniques.
The Indian government revealed in an official document this year that the framework for the second phase of the HRD has been approved in March. It aims to increase oil and gas production from the field by 13 million metric tonnes and 1.7 billion cubic meters respectively, by 2035.
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