Malaysia’s TH Heavy Engineering Berhad has announced that its wholly owned subsidiary, THHE Fabricators Sdn. Bhd. has received a Letter of Award from Lundin Malaysia B.V. dated 4 November 2013 for the fabrication of Wellhead Platform (WHP) in relation to the PM307 Bertam Field Development Project.
Under the Contract, THEE is to undertake the Fabrication of Wellhead Platform (WHP) for the Bertam Field Development Project located at Block PM307, approximately 175 kilometers off the east coast of Peninsular Malaysia. It is a one-off contract and the scheduled completion date for the contract shall be approximately 12 months.
The company did not disclose financial details of the deal.
Lundin Petroleum last month received approval for the Bertam Field Development Plan from PETRONAS. The Bertam field is the first development project operated by Lundin Petroleum in Malaysia.
The Bertam field is located in Block PM307, offshore Peninsular Malaysia. Lundin Malaysia BV as operator holds a 75% working interest and PETRONAS Carigali holds the remaining 25% working interest.
The Bertam field will be developed using a 20 slot Wellhead Platform adjacent to a spread moored FPSO in a water depth of 76 metres. The subsurface development concept consists of 14 horizontal wells completed with Electric Submersible Pumps (ESP’s). The total gross capital investment associated with the Bertam field development, excluding any FPSO related costs, is estimated at approximately USD 400 million.
Ashley Heppenstall, President and CEO of Lundin Petroleum said: “The approval from PETRONAS of the Bertam Field Development Plan is a major achievement for the South East Asia business. We have built an experienced project team with strong record of completing similar projects and are confident we have the capability to deliver this major project on schedule and on budget.”
November 14, 2013