Wednesday, February 29, 2012

Kencana Secures RM74m Fabrication Job from ExxonMobil

KUALA LUMPUR (Feb 29): KENCANA PETROLEUM BHD has secured a RM74 million contract from ExxonMobil Exploration and Production Malaysia (EMEPMI) to fabricate the substructure for a platform off Terengganu.

The company said on Wednesday its unit Kencana HL Sdn. Bhd was awarded the contract to fabricate the substructures which include jacket, piles and related components which formed part of Tapis R central processing platform for the Tapis re-development project off the coast of Terengganu. “The total value of the contract is approximately RM74 million. It is a one-off EPC contract and is expected to be delivered to EMEPMI within the second quarter of calendar year 2013,” it said.

Tuesday, February 28, 2012

Energy Commission Wants IPPs to Reduce Capacity Payments

KUALA LUMPUR (Feb 28): The Energy Commission has invited the first generation of independent power producers to submit their plans to extend the power purchase agreements (PPAs).

Its chairman Tan Sri Dr Ahmad Tajuddin Ali said on Tuesday that these IPPs, whose PPAs scheduled to end in three to four years, were invited to extend the agreements on condition they would reduce the capacity payments.

According to the commission website, there are 27 IPPs in Malaysia.

As for the Prai combined cycle gas turbine power project, he said the commission had received pre-qualification statements from 33 out of 38 participants. The 33 participants comprised of the 18 consortia and sole bidders. All submissions would be evaluated and the short-listed bidders would be announced after March 19.

Written by Max Koh of theedgemalaysia.com