Singapore-listed offshore oilfield service provider IEV Holdings said on 27 May that its subsidiaries, IEV International and IEV Malaysia, have collectively secured five new contracts to provide subsea solutions.
The contracts, worth USD2.2 million, involve structural pile grouting and free-span correction services for oil and gas platforms.
However, the client’s name was not revealed.
IEV International will do the grouting of one platform in Argentina and free-span correction services in India, while IEV Malaysia will do the grouting of two platforms and free-span correction services on pipelines in Malaysian waters.
These services have been done jointly by IEV and its partner FoundOcean since 2008.
To date, IEV has grouted over 60 fixed structures and completed over 25 free-span correction projects to support the installation of offshore platforms and pipelines throughout Asia.
The contracts are expected to have a positive impact on IEV’s earnings for this year.