Singapore-based oil and gas fabrication company Dyna-Mac has secured an in-principle from undisclosed clients to build FPSO topside modules.
Dyna-Mac said Tuesday the fabrication contracts (in-principle) were awarded from both its repeat customer as well as new customers for a total of around S$18 million.
The contracts are for the fabrication of some units of topside modules for a Floating Production Storage Offloading vessel, pipe racks, and skids.
The fabrication will start in 1Q2020 and is expected to complete by 1Q2021, Dyna-Mac said in a brief announcement on Tuesday.
Dyna-Mac last week issued profit guidance in which it said that the group was expected to report a net loss for 4Q2019 and cumulative loss for the full year ended 31 December 2019.