Malaysian Barakah's Subsidiary PBJV Receives LOA from Shell
Malaysia's Barakah Offshore Petroleum Berhad reported Monday that its wholly-owned subsidiary company, PBJV Group Sdn Bhd has received a Letter of Award (LOA) from Sarawak Shell Berhad/Sabah Shell Petroleum Co. Ltd. for the supply of operational pigs and pigging accessories as well as related equipment and services.
"The LOA is for a price agreement to be entered for the supply of operational pipeline inspection gauges (pig) and its related accessories, equipment and services," Barakah Offshore said in a filing with local stock exchange Bursa Malaysia.
Prior to the signing of the price agreement, the LOA shall constitute the agreement between Shell and PBJV.
Barakah Offshore added that the pigging operation will be carried out offshore Sabah and Sarawak mainly for the operational maintenance of oil and gas pipelines.
The contract is three years from April 15 to April 14, 2018, with Shell holding an option to extend for further one year until April 14, 2019.
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