TH Heavy Engineering Berhad, an offshore oil and gas facilities fabricator, clarified Tuesday that the firm is not aware of the one year extension given by Japan's JX Nippon Oil & Gas Exploration (Malaysia) Ltd. to complete the floating, production storage and offloading (FPSO) unit for the Layang field in Block SK10 offshore Sarawak, Malaysia as reported May 28 by a local media, it said in a filing on Bursa Malaysia.
"The Company, nevertheless, is committed to complete the FPSO Project for JX Nippon. We were not contacted by Focus Malaysia and we are not in a position to state where the newspaper got the information," TH Heavy Engineering said in the announcement.
The firm bagged the FPSO contract, worth $372 million (MYR 1.2 billion) for the primary period, from JX Nippon in May 2014, with the facility to be leased to the Japanese company until Nov. 17, 2023.
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