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

Fugro Lands Deepwater Gas Field Job in Southeast Asia

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Fire Contained at Vietnamese Oil Platform Undergoing Decommissioning (Video)

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

Velesto’s Jack-Up Rig Up for Drilling Job Offshore Vietnam

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

Current News

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Three Dead in Chevron's Angolan Oil Patform Fire

BW Opal FPSO Vessel set for Work off Australia

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

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