This article first appeared in The Edge Financial Daily on December 3, 2019 - December 9, 2019

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) has secured a contract from Petronas Carigali Sdn Bhd to undertake the provision of engineering, procurement, construction, installation and commissioning (EPCIC) for the Bekok Oil project.

In a statement yesterday, MHB said its unit Malaysia Marine and Heavy Engineering Sdn Bhd had bagged the job, which includes the supply and installation of new BEDP-A and BEDP-B wellhead platforms.

On completion of fabrication works, the platforms will be installed at PM9 Field, located in south-east of the Malay Basin, Peninsular Malaysia, about 260km from the Terengganu Crude Oil Terminal.

The group has also recently secured a contract for the Bergading central processing platform-mercury removal unit (CPP-MRU) integration project from Hess Exploration and Production Malaysia BV.

The group said the job covers engineering, procurement, construction and commissioning (EPCC) works for the Bergading MRU module.

On completion, the module will be installed and integrated with the existing Bergading CPP in the North Malay Basin, it said.

MHB managing director and chief executive officer Wan Mashitah Wan Abdullah Sani said the new contracts signify continued trust in the group’s capabilities.

“Our focus remains on ensuring efficiency and effectiveness in the execution of project deliverables as per targets set,” she said.

MHB shares settled 3.5 sen higher at 89 sen yesterday, valuing it at RM1.43 billion. In the past one year, the stock has jumped over 51%.