Malaysia's THHE Not Given More Time from JX Nippon to Complete Layang FPSO
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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