PTTEP awarded the contract, worth RM43m ($9.5m), to provide front-end engineering design (FEED) services for the offshore facilities related to Sk410b Lang Lebah development, which will be undertaken by Ranhill Worley (RWSB)
Ranhill Utilities announced that its indirect subsidiary Perunding Ranhill Worley (PRW) has received a contract worth RM43m ($9.5m) from PTTEP HK Offshore (PTTEP).
PTTEP awarded the contract to provide front-end engineering design (FEED) services for the offshore facilities related to Sk410b Lang Lebah development.
The scope of works under the contract will be undertaken by Ranhill Worley (RWSB), a subsidiary of Ranhill.
PRW is primarily engaged in providing engineering and design services for oil and gas facilities, and its 49% equity stake is owned by RWSB.
Under a service agreement between PRW and RWSB, PRW exclusively appointed RWSB to provide services in respect of all projects awarded in Malaysia.
Ranhill Utilities, in its statement, said: “It is anticipated that even with the most aggressive projections of the renewable energy transition, there will still be a need for hydrocarbons to be part of the energy mix.
“Therefore moving forward, a low carbon energy source such as gas and carbon capture will be a key part of the global transition to net-zero carbon emissions.
“RWSB is committed to working together with our customers to navigate their energy transition process to decarbonise the extraction of hydrocarbons.
“This award reinforces PRW and RWSB’s position as a leading provider of engineering and design services for oil and gas facilities in delivering sustainable tomorrow.
“The board having taken into consideration all aspects of the project and is of the opinion that the Project is in the best interest of Ranhill Group.”
As part of the contract, RWSB will provide engineering services to PRW in the form of a recurrent related party transaction (RRPT).
Ranhill has already obtained the renewal of its shareholders’ mandate for the RRPT.
The scope of work includes building a Processing Platform (CPP) and 1,650mmsftd Jackets, two Wellhead Platforms (WHP), a Flare Platform, and intra field pipeline, among others.
PTTEP is a Thailand-based petroleum exploration and production company with major projects in Southeast Asia, the Middle East, North Africa, Australasia and North America.