Alam Maritim wins FSO demobilisation contract

Malaysia’s Alam Maritim Resources has received a Letter of Award from a local oil and gas services company to demobilise a floating storage vessel for a total contract sum of USD 9.6 million. 

Alam Maritim Resources says that the contract was duly accepted by the subsidiary company.

The company did not disclose the name of the client and as of yet did not reply to an email sent by Offshore Energy Today seeking further details.

The contract is expected to start on October 6, 2014 until November 15, 2014.

Valued at approximately USD 9.6 million, the contract is expected to contribute positively to the earnings and net tangible assets of ALAM for the financial year ending 31 December 2014 and beyond, the company said in a filing.

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