Semberah contract value raised
MAINBOARD-LISTED Federal International yesterday announced that the contract
value of its Semberah Field Development & Production Facilities Rental Project
in Indonesia has been increased to US$33.57 million from US$21.6 million
This project was awarded to Federal's joint-venture company Federal JWR
Energy Pte Ltd last March. It involved the rental of production facilities in
Indonesia for a period of five years with an option for an extension of three
Federal JWR, a joint venture between Federal and PT Jaya Wijaya Raya, was
set up to carry out EPC (engineering, procurement and construction) and BOO
(build, operate and own) projects for the oil and gas industry in Indonesia.
Federal said the latest transaction is expected to have a positive material
impact on the earnings per share for the financial year ending 2005. But it is
not expected to have any material impact on the net tangible assets per share.
《The Business Times》