Tuesday, December 20, 2011

UMW subsidiary gets RM94.74m job from Carigali Iraq

KUALA LUMPUR (Dec 20): UMW HOLDINGS BHD []'s 60% owned subsidiary Synergistic Generation Sdn Bhd (SGSB) has secured a contract worth RM94.74 million (US$29.7 million) from Petronas Carigali Iraq Holding BV (PCIHBV) to supply material and install the Garraf Power Plant phase 1 for the Garraf field located onshore Iraq.

UMW said on Tuesday that PCIHBV was engaged in the development of the Garraf Contract Area, Iraq under a development and production service contract between South Oil Company, Petronas ''Carigali Sdn Bhd, Japan Petroleum Exploration Co Ltd (JAPEX) and North Oil Company.

PCIHBV is the operator of the Garraf Field, which is located in the province of Dhi Qar, about 250km southeast of Baghdad, it said.

UMW said the contract was for a period of 55 months, effective Sept 8, ''2011, with an option by PCIHBV to extend the contract for another 12 months.

It said the contract was expected to contribute to its earnings for the financial year ending Dec 31, 2012.


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