Technics completes delivery platforms contract worth S$40 mln

The topside equipment of BK-14 and BK-15 will be delivered to the “White Tiger” oil field in Vietnam.

Technics Oil and Gas Limited a full service integrator of compression systems and process modules for the global offshore oil and gas sector, on Wednesday announced that the S$40 million repeat EPCC (“Engineering, Procurement, Construction and Commission) contract from JV Vietsovpetro for the provision of the topside equipment for wellhead satellite offshore platforms, BK-14 and BK-15, has been completed on schedule and will be delivered to the “White Tiger” oil field in Vietnam, according to a Technics announcement.

The contract, first announced on 1 September 2009, involved Technics undertaking the engineering, project management, procurement, fabrication, supervision of installation and hook up, onshore and offshore completion of topside equipment for wellhead satellite offshore platforms.

The two platforms are expected to produce up to a total of 90,000 barrels of crude oil per day.

Mr. Robin Ting, founder and Group Managing Director said, “We are pleased that, once again, our team has worked well in tandem with Vietsovpetro and has demonstrated both proficiency and commitment in delivering this complex project. It was very important to complete the project on time and with no margin for error as the monsoon season approaches. We expect the on-time completion of these fast-track projects to yield better margins and this will invariably make a positive contribution to our financial performance for FY2010.”