Mooreast Holdings has secured a new order valued at $6.7 million for a multi-buoy mooring upgrade project off the eastern shore of the Gulf of Thailand.
The SGX-listed total mooring solutions specialist, and Asia’s only ultra-high power anchor manufacturer, said it was awarded the Engineering, Procurement, and Construction (EPC) as well as installation and testing project by a Thailand-listed petroleum refining and distribution company.
The project will begin in November 2024 and is expected to be completed by the first half of 2025.
Mooreast will oversee the design, engineering, procurement, fabrication and installation of the multi-buoy mooring system.
In addition, the company will supply their proprietary MA5P Drag Embedment Anchors, which offer a holding capacity of up to 275 metric tonnes, along with other mooring components which will be used to secure various offtake tankers, including those up to very large crude carriers (VLCC) size.
Mooreast will also be handling the transportation and installation services for the MBM Project in the Gulf of Thailand.
“Securing multi-buoy mooring upgrade project reflects our strong execution ability, especially in the oil and gas sector where we have been operating for over 30 years.
“Moving forward, we remain focused on adding value to the offshore floating renewable sector through our specialist solutions and expertise, and we look forward to capturing more of such opportunities in the near future,” said Sim Koon Lam, founder, Executive Director, CEO and Deputy Chairman of Mooreast.