Tanjung wins Petronas contract

expat network

Tanjung wins Petronas contract

Malaysia’s Tanjung Offshore has secured a construction work request contract worth USD66.6 million Petronas Carigali.

The contract has been signed by its subsidiary, Tanjung Offshore Services, and involves the maintenance of Petronas Carigali’s offshore and onshore facilities in Sarawak, Malaysia.

Tanjung Offshore stated that the contract duration is for two years with the option to extend, on part of Petronas Carigali for an additional one year period until 15 January 2018.

The contract will have no effect on the issued and paid-up capital of Tanjung Offshore and is expected to contribute positively towards the earnings and net assets per share of the company for the financial years ending 31 December 2015 to 31 December 2018.

Previously, Tanjung Offshore was awarded an Engineering Procurement Installation Commissioning (EPIC) contract worth MYR200 million from Petronas Carigali in September 2014. The contract comprises the provision of EPIC of facilities for the Operational Reliability & Integrity Gauging of Instrument based Safeguards (ORIGInS) project that covers both Peninsular Malaysia and East Malaysia.

Source: I H Maritime 360

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.