Malaysia-based offshore oil and gas services provider Alam Maritim Resources Berhad (AMRB or the Company) announced Friday that its joint controlled entity, Alam Swiber Offshore (M) Sdn. Bhd. (ASO), has recently signed an agreement with Geoproduction (M) Sdn. Bhd. (Technip) and Malaysia Marine And Heavy Engineering Sdn. Bhd. (MMHE) to cooperate and undertake the performance of the contract for engineering, procurement, construction, installation and commissioning in Malaysian waters.
The $76 million (MYR 248 million) contract, which takes effect immediately, includes optional scope undertaken by ASO.
"The contract is expected to positively contribute to the earnings and net assets of the Company for the financial year ending Dec. 31, 2015," Alam Maritim said in an announcement on local stock exchange Bursa Malaysia Friday.
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