Dyna-Mac Nets $116,9M Worth in New Contracts. Loses Offshore Vessel Deal

Tuesday, November 10, 2020

Singapore-based oil and gas module building firm Dyna-Mac has won new contract worth S$157.50 million ($116,9 million) but has also said it has lost a contract for work on an offshore vessel, which was awarded in April 2020.

Dyna-Mac said Tuesday it had won contracts for the fabrication of pipe spools and construction of topside modules for Floating Production Storage Offloading vessels. 

These projects, worth S$157.50 million ($116,9) will start from the fourth quarter 2020 and are expected to be completed by the second quarter of 2022. The company did not say who the clients were, apart from saying they were "both new and repeat customers."

Also, Dyna-Mac said it had received notice of cancellation of the contract by an existing customer valued at S$6.30 million (USD4,67 million) against an awarded project announced in April 2020 for the fabrication of an offshore vessel’s upper hull sections. 

"Discussions are presently ongoing with the customer on contract resolution and settlement," Dyna-Mac said.

As previously reported, Dyna-Mac's scope of work under the contract included structural fabrication and erection, piping fabrication and installation, electrical and instrumentation, mechanical installation and painting works.

Categories: Energy Vessels Industry News Activity FPSO Asia Floating Production Singapore

Related Stories

CNOOC Puts Into Production New Oil Field in South China Sea

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

Kazakhstan Looks to Improve Oil Production Agreements Terms

CNOOC Boosts Dongfang Gas Fields Output with New Platform Coming Online

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

Vestas Lands First 15MW Offshore Wind Turbine Order in Asia Pacific

China’s CNOOC Brings Bohai Sea Oil Field On Stream

Current News

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com