Singapore's Technics Oil and Gas has won a S$56 million contract from joint venture Vietsovpetro in Viet Nam. It is the single-largest contract that the group has ever secured.

Its wholly-owned subsidiary Technics Offshore Engineering was awarded the contract to supply three satellite platforms for a new oilfield.

The deal involves engineering, project management, supervision of installation and hook up, as well as commissioning of topside modules for satellite wellhead offshore platforms, among other services.

The contract also provides for a full package of equipment and systems requirements, such as oil and gas processing equipment, power generation and accommodation modules.

The satellite wellhead platforms will be installed in the "Dragon" oil field located 120 kilometres offshore Vietnam, at a water depth of 45 metres.

The three platforms are expected to produce up to a total of 135,000 barrels of crude oil per day.

Project planning will commence in September, with completion targeted for June or July 2009.

The project is expected to generate total revenue amounting to S$56 million over a period of 11 months.

Via:Channel NewsAsia

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