MHB secures EPC contract from PTTEP

PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) has secured a price agreement contract from PTTEP SARAWAK Oil Ltd and PTTEP HK Oil Ltd for the engineering, procurement and construction (EPC) of Marginal Field Design Platforms (MFDP) involving up to 11 wellhead platform (WHP) facilities.

Under the four-year programme, MHB’s wholly owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), will fabricate the WHPs, each weighing about 1,500 to 2,000 metric tonnes. The platforms will be deployed offshore Sarawak to support PTTEP’s field development plans. Fabrication will be carried out at MMHE’s yard in Pasir Gudang, Johor.

Managing director and chief executive officer Mohd Nazir Mohd Nor said the award marked the group’s first direct collaboration with PTTEP. “Secured through a competitive bidding process, this award reflects MHB’s over five decades of offshore expertise and proven track record,” he said.

The group's bourse filing did not state the value of the agreement

The contract is expected to contribute positively to MHB’s earnings and net assets for the financial year ending Dec 31, 2026 and beyond. It will not affect the company’s share capital or shareholding structure.