Technics Snags S$5 Million Contract from J. Ray McDermott

Technics Oil & Gas Limited's subsidiary, Technics Offshore Engineering Pte Ltd, has secured a S$5.0 million contract from J. Ray McDermott Asia Pacific Pte Ltd for the engineering, procurement and construction of critical production equipment which includes pressurized production separators and scrubbers for the use in an oil field development project.

The contract is not expected to have any material effect on the earnings per share and net tangible assets per share of Technics Oil & Gas Limited in the current year.

Mr. Robin Ting, Executive Chairman and Managing Director of Technics Oil & Gas Limited, is very bullish on the prospects for oil & gas industry for the next few years. The outstanding order book as of the date of announcement stands at approximately S$56 million.

Technics Oil & Gas Limited (formerly known as Technics Group Holdings Limited), is a Singapore publicly listed company. It provides a comprehensive range of process equipment, including gas compression packages, and support services to the Oil & Gas industry in Asia Pacific.