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Enra lands Petronas LOA off Myanmar

Written by  AOG Staff Monday, 10 July 2017 09:50
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Enra’s 60%-owned subsidiary, Enra SPM Sdn Bhd, received a letter of award (LOA) from PC Myanmar (Hong Kong) Ltd. (PCML), a subsidiary of Petronas, for the lease of a single point mooring system and storage tanker to PCML, through an open tender process.

The deal is to provide condensate storing and offloading services for the Yetagun offshore gas field operated by PCML in the Andaman Sea off the coast of Myanmar.

The award is for a four-year primary period with a total value of approximately US$48 million. The leasing period is estimated to begin upon the facilities being commissioned and delivered to PCML.

The risks associated with the project are normal operational risks which can be mitigated through the application of internal business controls and best practices in operating procedures.

Enra is keen to build a track record in providing optimum cost-effective solutions to the oil and gas industry in the region and anticipates the Project to contribute positively to the earnings of the company in the next financial year and onwards. 

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