Barakah Gets LoA for Kebabangan Northern Hub Development Project

Barakah Offshore Petroleum Berhad (“Barakah”) announces that its wholly-owned subsidiary company, PBJV Group Sdn Bhd, has received a letter of award from Kebabangan Petroleum Operating Company Sdn Bhd (“KPOC”).

The contract covers the provision of dewatering, drying and dry preservation of 14” and 24” KBB Linepipes for Kebabangan Northern Hub Development Project.

The contract has a value between RM20 million and RM25 million. The work for the contract is expected to commence in Q4 2013 and is expected to be completed by Q1 2014.

The contract is expected to contribute positively towards the earnings and net assets per share of Barakah Group for the financial year ending 30 September 2014.

November 29, 2013; Image: KPOC