PBJV Receives LOA from Petronas Carigali for Work Offshore Malaysia

Barakah Offshore Petroleum Berhad reported Friday that its wholly-owned subsidiary firm PBJV Group Sdn Bhd has received a Letter of Award from Petronas Carigali Sdn Bhd (PCSB) to provide engineering, procurement, fabrication, installation, commissioning and maintenance works of pig trap system offshore Malaysia.

Under the three-year deal, which runs from Jan. 23 to Jan. 22, 2018 with a contract extension option of one year to Jan. 22, 2019, PBJV will carry out work on the pig trap system in Peninsular Malaysia, Sabah and Sarawak.

PBJV indicated in a filing Friday with local stock exchange Bursa Malaysia that the pig trap system is "essentially a facility to launch and receive pipe inspection gauges (PIG), which are used to run through internal section of pipelines from one end to the other end for inspection and maintenance of pipelines."

Barakah Offshore revealed that total contract value will depend on the actual work orders to be issued by PCSB from time to time during the contractual period.

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