Barakah gas pipeline job extended for one year

PETALING JAYA: Barakah Offshore Petroleum Bhd’s gas pipeline contract from Petronas Gas Bhd has been extended for a year till Nov 30.

The group told Bursa Malaysia that the contract is for the provision of repair and maintenance of the Sabah Sarawak Gas Pipeline (SSGP).
The value of the contract will depend on the number of work programmes to be carried out based on unit rates specified in the contract.
Year-to-date, it has received about RM133 million worth of work programmes, which will be executed within this year.
Barakah received the contract in December 2015 for a period of two years from Dec 1, 2015 until Nov 30, 2017 and it has been extended for another year.
SSGP is a network of onshore pipeline that links Sabah Oil and Gas Terminal in Kimanis, Sabah and Petronas LNG Complex in Bintulu, Sarawak. The length of the pipeline is 512km.
The scope of the contract include inspection, testing, repair and maintenance of the pipes and related infrastructure to maintain the pipeline integrity.
Barakah expects the job to contribute positively towards its earnings and net assets per share for the current financial year ending Dec 31.