Borneo Seaoffshore Nets Pipeline Isolation Deal with ExxonMobil

Malaysia's Handal Energy has said it has, through a subsidiary won a pipeline isolation contract with ExxonMobil in Malaysia.

Handal said Monday that ExxonMobil Exploration and Production Malaysia had awarded the contract to Borneo Seaoffshore Engineering (“BSO Engineering”), a 51% owned subsidiary of Handal.

The contract is for the provision of pipeline isolation services for ExxonMobil's-operated platforms. The contract is for a five-year duration with an extension option of an additional one year.

According to Handal, the contract does not have any specified value as it is on a “call-out” basis where work order will be issued at the discretion of ExxonMobil based on its activities schedule and rates throughout the duration of the contracts.