Technics Group In Alliance With Global Process Systems Clinched S$7 Million Oil & Gas Process Packages

abarrelfullabarrelfull wrote on 08 Oct 2014 07:31

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Oct 24, 2005

Technics Group Holdings Limited announces today that its wholly owned subsidiary company, Technics Offshore Engineering Pte Ltd (TOEPL), in collaboration with Global Process Systems Inc (GPS), has secured more than S$7 million orders from Unocal Global E&C to supply Oil & Gas process packages for use in the Bibiyana Gas field development project in Bangladesh.

TOEPL is a wholly owned subsidiary of Technics Group Holdings Limited, a Sesdaq-listed provider of Oil & Gas equipment and process systems in the region. The contract for TOEPL is worth S$4.4 million and the bulk of the contract will be delivered in 1st half of 2006. The details of the workscope for TOEPL are follow :

TOEPL shall be responsible for the design, equipment and materials, manufacturing and assembly , test, inspection, and certification of skid-mounted pump packages, inlet / relief / condensate manifold skids , Test and HP Production Separators. The overall Process Design and supply of proprietary process internals and devices are under the workscope of GPS.

Mr Robin Ting, Executive Chairman & Managing Director of Technics Group Holdings Limited, is confident that the alliance with Global Process Systems Inc will open a new source of business and extend to the Floating Production Storage & Offloading (FPSO) market.

The contracts are expected to have a positive contribution to TOEPL’s earnings in financial year ending September 2006. None of the Company’s Directors or substantial shareholders has any direct or indirect interest in the above mentioned transaction.

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