Alam Maritim Resources Berhad disclosed Tuesday that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd has recently received a Letter of Award from PETRONAS Carigali Sdn Bhd -- the upstream arm of Malaysia's national oil company Petroliam Nasional Berhad (PETRONAS) -- for the provision of engineering, procurement, construction, installation and commissioning (EPCIC) of a pipeline for the Terengganu Crude Oil Terminal (TCOT) project.
Under the contract, valued at $6.2 million (MYR 26 million), Alam Maritim will undertake EPCIC work for a 0.62 mile (1 kilometer) 10 inch pipeline for TCOT Effluent Discharge Line Extension Project, the firm said in a filing with local stock exchange Bursa Malaysia.
The company commenced work on the contract Oct. 8, with physical execution in March 2016 and completion targeted for end June 2016.
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