HomeMMBIZ NewsChinese Firm Signs $367-m Offshore Contract in Myanmar

Chinese Firm Signs $367-m Offshore Contract in Myanmar

China’s state-owned Offshore Oil Engineering announced that the company and Petroleum Authority of Thailand has signed a Myanmar Zawtika Phase 1B EPCI contract and gained a local governmental approval.

The contract covers design, construction and offshore installation of four wellhead platform and pavement of four subsea pipelines.

Contracted value is about $367 million, the company said.

The project is located in the water about 300 kilometres away from Yangon, with average operation depth being 150 metres.

The project is scheduled to complete in April 2016, while the bid-winning letter was received in May, the Chinese firm said.

This is the biggest overseas EPCI contract Offshore Oil Engineering gained, and the firm said it reflects its recent growth in EPCI contracting capacity and strength.

- Advertisment -spot_img

Must Read

Central Bank Sells Millions of Dollars for the 3rd Time in...

The Central Bank of Myanmar sold $10 million on January 13 at the rate of MMK1,778 per dollar. This is the third time that the...
spot_img