KUALA LUMPUR: Eversendai Corp Bhd’s wholly-owned subsudiary, Eversendai Technics RMC FZE, marked its maiden foray into the oil and gas sector (O&G) via a RM24.7 million contract secured from Petronas Carigali Iraq Holding BV.
The integrated structural steel turnkey and power plant contractor won the contract for the supply and delivery of Fuel Gas Conditioning Unit (FGCU) and associated equipment at the 15 megawatt power plant for Garraf Development Facility Operation.
In a statement yesterday, Eversendai executive chairman and group managing director Tan Sri AK Nathan said the project was an excellent start for the joint venture as it provides opportunity to further establish itself in the Middle East O&G sector.
“We will execute the FGCU in our Hamriyah Fabrication Yard (Sharjah) as the new Ras Al Khaimah (RAK) waterfront fabrication yard is under development now and will be ready in the first quarter of next year,” he said.
The new yard is about 200,000 square metres, with 550 metres of waterfront, and has a water depth of seven metres at low tide.
He said the company would continue to bid for other projects including offshore platforms, structures, topsides and large process modules given the vibrant Middle East O&G sector.
“It is our utmost priority to ensure that we capitalise on this,” he added.
Eversendai has a strategic long-term business plan to deliver future growth and enhance shareholders’ value.
The setting up of the O&G division was part of Eversendai’s strategic plan to double its revenue to RM2 billion by 2017 with a firm focus on delivering profitability.
This revolves around expanding and strengthening its presence in existing markets including the Middle East, India and Southeast Asia, whilst venturing into new markets including the Commonwealth of Independent States (CIS) countries. — Bernama