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IEV AWARDED CONTRACT FOR FLOATING PRODUCTION STORAGE OFFLOADING (FPSO) DECOMMISSIONING AND TOWAGE IN MA LAYSIA

14 January 2014 – IEV (Malaysia) Sdn. Bhd has been awarded a contract for the decommissioning and towage (the “Project”) of a FPSO from offshore  Terengganu in Malaysia, by a Malaysian-based Oil and Gas exploration and production services company. The value of the Project is approximately RM 50 million. The Project is scheduled to commence in January 2014 and is expected to be completed within two months.

IEV will be executing the Project together with EMAS-AMC Pte Ltd, a leading global offshore service provider equipped with a fleet of young and advanced DP subsea construction and installation vessels, to support the offshore decommissioning phase of the Project. IEV will be deploying its engineering capabilities from its Decommissioning Solutions for the execution of the Project