Singapore's Technics Oil and Gas Limited (Technics or together with its subsidiaries, the Group), a leading full service integrator of compression systems and process modules for the global offshore oil and gas sector, announced Wednesday that its 40.21 percent associate company – Norr Offshore Group Limited (NOG) whose subsidiary – Wecom Engineering Pte Ltd has been awarded GRE contracts worth of $5.8 million (SGD 7.2 million) to supply, fabricate, test, install and commission for SW and Ballast systems for a Singapore customer.
Despite strong competition from other international competitors, the Company was eventually selected due to its excellent technical proposal, experience and proven track record in the related field.
“The Group has been consistently securing contracts so far and we are pleased that this momentum in order flow continues. Given our recent successes in EPCC and CE projects in several countries in the region, we are witnessing higher interest level and support from large multi-national corporations while we maintain strong ties with key customers,” Robin Ting, executive chairman & Group managing director said in the press release.
These contracts are expected to have positive material impact on the earnings per share for the financial year ending September.
The award of these contracts comes rapidly on the back of a series of recent contract wins by the Group. A brief recap of recent contract wins is as follows:
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