Singapore-listed Technics Oil and Gas has secured Engineering, Procurement, Construction, and Installation (EPCI) contracts worth SGD5.3 million (USD3.97 million) on 21 May.
The EPCI contracts were signed by Technics Steel, one of the subsidiaries of Technics Oil and Gas. The project will be managed by two experienced personnel in the structural field with Engineering Doctorates.
Technics Oil and Gas is a service integrator of compression systems and process modules for the global offshore oil and gas sector.
Previously, Technics Oil and Gas inked another EPCI deal for fabrication of steel structure with its customers in Malaysia worth around SGD5.1 million on 20 April.
Prior to that, the company has bagged a contract worth SGD6 million to supply process and rotating equipment to its customers based in Malaysia on 5 February, which was preceded by contracts worth SGD732 million to supply, fabricate, test, install, and commission for the ballast systems for a Singapore customer on 4 February.
Executive chairman of Technics Oil and Gas Robin Ting believes the recent contract wins were due to the company’s “strong ties with customers”. According to Ting, the good rapport enjoyed by Technics Oil and Gas has also attracted that attention and higher interest level and support from large multinational corporations.
The contract wins are expected to have positive material impact on the company’s earnings per share for the financial year ending September 2015.