KUCHING: Heavy engineering and marine services provider Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) announced its team-up with Technip for the hull design and with Daewoo Shipbuilding and Marine Engineering Co Ltd (DSME) for the topside projects on a front end engineering and design (FEED) contract for Petronas’s Floating Liquefied Natural Gas (FLNG).

According to a research report from ECM Libra Capital Sdn Bhd (ECM Libra), the joint venture would beef up MMHE’s marine segment, particularly in vessel conversion and repair services.

Its order book at the moment continued to be rather slow at less than RM30 million worth of jobs on a month-to-month basis.

Besides this, MMHE was participating in a tender for the Block B-17 Muda-Jengka gas project in the Malaysia-Thailand joint development area.

The ECM Libra research report further outlined that the group would have some capacity to take on small shallow water jobs in second half for calendar year 2011 (2HCY11) on the platform job for B-17 as their Tangga Barat Topside job, of 14,505 metric tonnes (mt), had been completed.

The group would also complete the similar-sized Kinabalu topside by the first quarter for 1QCY12.

ECM Libra revealed that MMHE currently had an available yard capacity at 17,000 mt per annum which could be reserved for a sizeable shallow water job worth up to RM800 million.

Total annual tonnage of the group was 69,700 mt and the Gemusut-Kakap Floating Production System (FPS) had taken 38,000 mt per annum as highlighted by the research house.

Separately, the group was also bidding for a platform job in Iraq and another
gas compressor job in Thailand.