Boustead Singapore clinches $38m contracts from global oil & gas firms

New contract wins in FY2014 stood at $300m.

In a release, Boustead Singapore Limited announced that its Energy Related Engineering Division has recently secured approximately S$38 million in contracts from the oil & gas industries globally.

The contracts involve the design, process engineering and construction of waste heat recovery units – key environmentally-sustainable technology – and process heater system installation services for upstream and downstream oil & gas developments, primarily in Norway and Russia.

Mr Wong Yu Loon, Executive Director of Boustead, who is responsible for the EnergyRelated Engineering Division, said, “The division has excelled in securing new contracts in FY2014, with over S$140 million in energy orders so far, significantly surpassing the value of energy orders secured for the whole of FY2013.

The outlook for this division remains bright as we actively pursue enquiries globally to provide our specialist expertise in process heater systems, waste heat recovery units and process control systems.”

With the addition of the latest contracts, the Group has secured over S$300 million in new contracts in FY2014, which has also just surpassed the orders secured by the Group for the whole of FY2013. The Group’s order book backlog (as at the end of June plus new orders since then) currently stands at S$523 million.

The latest contracts are not expected to have a material impact on the profitability, earnings per share and net asset value of the Group in the current financial year ending 31 March 2014.

Also Read

Institution of Engineers sets up new board to promote faster chartership registration

Hanwha raises offer to $0.67 to acquire full control of Dyna-Mac Holdings

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit