Alam Maritim Resources Berhad reported Wednesday that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, recently received a Letter of Award from PETRONAS Floating LNG 1 (L) Ltd. (PFLNG-1), a unit of Malaysia's national oil company Petroliam Nasional Berhad (PETRONAS), for subcontract work on the floating liquefied natural gas (FLNG) facility, which will be deployed offshore East Malaysia.
Under the contract, Alam Maritim will supply miscellaneous marine spreads for PFLNG-1 project. The contract value, as announced in a filing with local stock exchange Bursa Malaysia, is $6.8 million (MYR 28.3 million).
Alam Maritime will commence work on the subcontract in mid June, with completion scheduled for mid October.
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