Malaysia’s Barakah Offshore Petroleum Berhad has through its subsidiary PBJV Group Sdn Bhd, entered into a contract with a Swedish oil company Lundin Petroleum.
The value of the contract will depend on the work order to be issued by Lundin for the duration of the contract. The contract duration is from 14 August 2014 to 4 February 2016.
Lundin Petroleum is currently working on its Bertam field development, in the Block PM307, offshore Malaysia. In its latest quarterly report, the company said that he completion of the offshore platform topsides and modification work on the 100 percent owned Bertam FPSO is expected to be completed this year with first oil in the second quarter of 2015.