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Monday, 29 July 2019

Maridive awarded USD 160 mn contract in India

Maridive awarded USD 160 mn contract to build pipelines in India: A Maridive & Oil Services Co. unit was awarded a contract worth USD 160 mn to build pipelines in India, the company said in a bourse filing (pdf). The contract includes engineering, procurement, installation, and commissioning services for several pipelines to be delivered on a turnkey basis, the company said. Construction is expected to begin in 3Q2019 and be completed by 4Q2020.

A boost to backlog: Maridive’s backlog for 2019-2021 has now reached USD 410 mn. The group’s offshore construction services division accounts for USD 206 mn, with the remaining USD 204 mn contracted at the offshore support vessels division. “The contract not only adds to the group’s backlog, but also expands our presence across a diverse geographical footprint that now stretches from the Gulf of Mexico to the Indian Ocean, covering several major oil-producing regions,” Chairman Tarek Nadim said.

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