Federal International Ltd., an integrated service provider and procurement specialist in the oil and gas, energy, utilities and infrastructure industries, has signed a memorandum of understanding (MOU) with CMIH. Under the MOU, Federal and CMIH will cooperate exclusively on certain identified oil and gas projects in Indonesia.
CMIH is a wholly-owned subsidiary of the China Merchants Group, a state-owned China conglomerate headquartered in Hong Kong engaged in businesses encompassing energy, transportation, marine engineering, finance, and real estate. CMIH is an engineering, procurement, construction, installation and commissioning (EPCIC) contractor, and its capabilities include the design and construction of offshore drilling vessels, specialized vessels, and vessel conversions. Its track record includes newbuild 400ft jackup drilling rig Haiheng CJ50-1 for Tianjin Haiheng Shipbuilding & Offshore Engineering Service, and the conversion of the floating production, storage and offloading vessel Cyrus Overall.
“The signing of the MOU will further enhance the strategic and competitive advantage of [Federal],” said Koh Kian Kiong, executive chairman and CEO, Federal. “Through [federal’s] strong business ties and network in Indonesia, CMIH and [Federal] expects to secure oil and gas projects in the country. CMIH and [Federal] are currently in discussion with various Indonesian parties on a number of identified projects.”