Singapore-based engineering firm Dyna-Mac Holdings Ltd. has announced that it has secured several firm contracts from its repeat customers, totaling a provisional sum of US$203.3 million (S$270 million).
The contracts include the construction of Topside Modules for a Floating Production, Storage and Offloading (FPSO) vessel, with work set to begin in 3Q 2023 and completion scheduled for 2Q 2025.
Dyna-Mac said other contracts involve the provision of services to execute fabrication, installation, and integration work onboard vessels.
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The new contracts will add to Dyna-Mac’s net order book bringing the total to US$457.8 million (S$608.1 million) and stretching into 2025.
While the new orders are not expected to materially impact the Group’s earnings per share and net tangible assets for the current financial year ending December 31, 2023, Dyna-Mac Chief Executive Officer (CEO) Lim Ah Cheng expressed his honour in being chosen as the partner for the project, adding that it is a testimony to their ability to execute projects on-time, on budget, and in compliance with safety, security, health, and environmental standards.
In 2019, Dyna-Mac was awarded a contract for the topside modules for the 220,000 barrel per day (bpd) Liza Unity FPSO vessel for ExxonMobil’s second development offshore Guyana.
