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PETALING JAYA: The Petronas Gas Bhd Barakah Offshore Petroleum Bhd Pipeline Contract was extended for one year until November 30th.
The group told Bursa Malaysia that the contract is for the repair and maintenance of the Sabah Sarawak gas pipeline (SSGP).
The value of the contract will depend on the number of work programs to be performed on the basis of the unit rates specified in the contract.
Since the beginning of the year, it has received about RM 131 million of work programs, which will be implemented this year.
Barakah was awarded the contract in December 2015 for a period of two years beginning December 1, 2015, November 30, 2017 and was extended for another year.
SSGP is an onshore pipeline system connecting the Sabah Oil and Gas Terminal to Kimanis, Sabah and the Petronas LNG Complex in Bintulu, Sarawak. The length of the pipeline is 512 km.
The scope of the contract includes the inspection, testing, repair and maintenance of pipes and related infrastructure to maintain the integrity of the pipeline.
Barakah expects the work to contribute positively to his profits and net assets per share. year ending December 31st.
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