5 December 2012 – IEV International Limited (“IEV International”), a wholly owned subsidiary of IEV Holdings Limited has been awarded grouting contracts for six offshore structures in the Asia Pacific region by various engineering, procurement, installation and commissioning (EPIC) contractors. The work program for the three projects awarded, which includes two offshore platforms in Indonesia and four offshore platforms in Myanmar, is scheduled to begin in the fourth quarter of the financial year ending 31 December 2012 and expected to be completed by the end of first quarter of the financial year ending 31 December 2013.
Structural Pile Grouting is part of the engineering services offered under the Group’s Jacket and Pipeline Installation Solutions (“JPIS”) business division, which targets the development of new offshore production facilities. IEV provides total project management and provision of equipment, materials and personnel to secure these structures to the seabed, in conjunction with its strategic alliance partner, FoundOcean Ltd.
With the addition of this award, IEV has to date 26 structural pile grouting projects, covering 51 structures, since the inception of the grouting services in its JPIS business division in 2007.