OceanMight, one of Malaysia's major producers, has successfully secured an engineering, procurement, and construction (EPC) contract from Shell for the establishment of fixed offshore structures related to several oil field projects off the coast of Malaysia.
Contract Details
OceanMight's parent company, KKB Engineering, announced that the company has received a contract establishment letter for the SK408 Teja and Pepulut projects as well as the Temu and Inai fields. Work related to this contract will continue until December 2027.
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Value and Financial Impact of the Contract
KKB Engineering added in a statement that the Shell contract, along with two unrelated supply orders awarded to the group by Hock Seng Lee and Bumia, amounts to approximately 462 million Malaysian Ringgit (equivalent to $113 million). These separate supply orders are scheduled for completion in the fourth quarter of 2026.
KKB Engineering has also stated that these new awards are expected to contribute to the revenues and net assets of the company during the periods related to the contracts. These contracts represent an important step in strengthening OceanMight's position in the Malaysian oil and gas industry and enhancing the technical and financial capabilities of the company for future projects.
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