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| Monday, 1 December 2014, 21:57 HKT/SGT | |
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HONG KONG, Dec 1, 2014 - (ACN Newswire) - Jutal Offshore Oil Services Limited ("Jutal", 03303.HK) announces that Penglai Jutal Offshore Engineering Heavy Industries Co., Ltd. ("PJOE"), an associate company of the Group, has recently received the confirmation letter for the construction workload of the two option trains of modules of YAMAL LNG Project. The total construction period of the project is about 36 months.
Summary
- Penglai Jutal Offshore Engineering Heavy Industries Co., Ltd. ("PJOE), an associate company of Jutal Offshore Oil Services Limited("Jutal") and its subsidiaries (collectively referred to as the "Group") has recently received the confirmation letter of YAMAL LNG Project which confirmed the construction workload of the two option trains of modules;
- The total value received by PJOE under the confirmed and effective orders since July 2014 is approximately RMB4.2 billion;
- It is expected that the existing orders will have a positive impact on the future operation of PJOE.
In August this year, PJOE, an associate company of the Group entered into a construction contract with Yamgaz, the general contractor to build modules for a liquefied natural gas project in Yamal in Russia ("YAMAL LNG Project"). This construction contract is the biggest one that PJOE has ever undertaken. Together with the platform construction of the offshore natural gas fields and the FLNG modules construction project awarded recently, the total value received by PJOE under the newly signed contracts and orders which have been confirmed by clients with effect since July 2014 is approximately RMB4.2 billion (approximately HK$5.3 billion). These substantial orders will ensure the workload of PJOE and have a positive impact on its future operation.
Jutal believes China's global cooperation in oil and gas industry, the international offshore industrial transfer, and the development of deep-water oil and gas resources in South China Sea will open new horizons of growth for the Company.
About Jutal Offshore Oil Services Limited
Founded in 1995, Jutal is an integrated provider offering state-of-the-art oil and gas equipment and facilities, offshore engineering and technical supporting services with international leading-edge technology in the oil and gas industry, as well as in the shipbuilding industry providing customers with first-class engineering contracting and professional technical services. Jutal is the only corporate in Asia which is capable of manufacturing subsea equipment, and it has become an international oil and gas giant by successfully entering into the supply chain.
Topic: Press release summary
Sectors: Daily Finance, Energy, Alternatives, Daily News
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