IEV Malaysia completes FPSO decommissioning contract

IEV Holdings Limited has announced that its 49% owned associate,IEV Malaysia has completed the decommissioning and towage of an FPSO from offshore Terengganu in Malaysia.

The Group executed the project together with EMAS-AMC Pte Ltd, a leading global offshore service provider for the execution of the Project. The scope of work included the withdrawal of the FPSO, removal of mooring chains, recovering of subsea structures and blind flanging of pipelines.

The project started in January 2014 and was completed in April 2014. The value of the project is approximately RM50 million (USD 15.3 million).

Christopher Do, President and CEO of IEV Holdings Limited said, “We are pleased with the successful completion of this maiden FPSO decommissioning project and are actively pursuing and bidding for similar work in Malaysia.”