Ahad, 6 April 2014

MMHE in the running for $921m Petronas Sarawak project

Unsurprisingly, MISC unit Malaysia Marine & Heavy Engineering Holdings (MMHE) and usual partner Technip are seen as the frontrunners for yet another Petronas project as the tender for the Kasawari project offshore Sarawak is set to be launched soon, local media quoted analysts from AmResearch as saying.

The tender from Petronas E&P unit Petronas Carigali for the parallel front-end engineering and design (FEED) for the multi-platform project in Block SK316, the second in the block, is expect to be out by May. If the MMHE-Technip partnership wins the first stage, it will have a better chance at being awarded the more valuable engineering, procurement, construction, installation and commissioning (EPCIC) contract for the project, likely to be announced in the second half of 2015.

The research house noted that Technip took the lead in the conceptual studies of the Kasawari field development, while the joint venture partnership between Technip and MMHE had eventually secured the contract for the first standalone multi-platform development in Block SK316.

The MYR3bn ($920.5m) project should see the usual suspects among the local firms, SapuraKencana Petroleum and TH Heavy Engineering, apart from MMHE bidding, as well as interest from Korean heavyweights such as Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering..

It involves a 30,000-tonne eight-legged central processing platform (CPP) which has topsides that weigh 19,000 tonnes, a nine-slot wellhead platform, a bridge link, a flare tower and a central collection platform, and has constraints given that the Kasawari field has high carbon dioxide content. Petronas has apparently limited participation to contractors with at least 10 years of experience in handling projects involving carbon dioxide removal process because of this.

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