Malaysia Marine and Heavy Engineering Holdings Berhad (MHB or Group) has announce d that its wholly owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), in consortium with TechnipFM has signed a Long-Term Agreement (LTA) with Saudi Arabian Oil Company (Saudi Aramco).
This agreement, valid for 6 years with option to extend for another 6 years, covers engineering, procurement, fabrication, transportation, and installation of offshore facilities in support of Saudi Aramco’s Offshore Maintain Potential Program, and other works which will be executed within the Kingdom of Saudi Arabia waters.
The agreement was signed during Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) Annual Forum in Dammam, Saudi Arabia on 26 November 2018.
With relations to the LTA, MMHE and its partner will be looking at certain scope to be performed in Saudi Arabia, supporting the on-going Saudization initiative.
Wan Mashitah Wan Abdullah Sani, Managing Director and Chief Executive Officer of MHB, commented, “We are excited to start our partnership with Saudi Aramco and to support their offshore development programmes. Our entry into Kingdom of Saudi Arabia marks a significant milestone for the Group’s Heavy Engineering segment as we pursue growth in line with our strategy to expand our portfolio in the international market. Fully leveraging on the core strengths of MMHE and TechnipFMC, we believe that the collaboration is another solid step in our constant drive to
deliver the best to our customers.”
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