TECHNICS GROUP HOLDINGS LIMITED Registration No.: 200205249E TECHNICS GROUP IN ALLIANCE WITH DUBAI-BASED GLOBAL PROCESS SYSTEMS CLINCHED S$7 MILLION OIL & GAS PROCESS PACKAGES FROM UNOCAL GLOBAL E&C. Technics Group Holdings Limited announces today that its wholly owned subsidiary company, Technics Offshore Engineering Pte Ltd (TOEPL), in collaboration with Global Process Systems Inc (GPS), has secured more than S$7 million orders from Unocal Global E&C to supply Oil & Gas process packages for use in the Bibiyana Gas field development project in Bangladesh. TOEPL is a wholly owned subsidiary of Technics Group Holdings Limited, a Sesdaq-listed provider of Oil & Gas equipment and process systems in the region.
The contract for TOEPL is worth S$4.4 million and the bulk of the contract will be delivered in 1st half of 2006. The details of the workscope for TOEPL are follow : TOEPL shall be responsible for the design, equipment and materials, manufacturing and assembly , test, inspection, and certification of skid-mounted pump packages, inlet / relief / condensate manifold skids , Test and HP Production Separators. The overall Process Design and supply of proprietary process internals and devices are under the workscope of GPS.
Mr Robin Ting , Executive Chairman & Managing Director ... more. less.
of Technics Group Holdings Limited, is confident that the alliance with Global Process Systems Inc will open a new source of business and extend to the Floating Production Storage & Offloading (FPSO) market. The contracts are expected to have a positive contribution to TOEPL 9s earnings in financial year ending September 2006. None of the Company 9s Directors or substantial shareholders has any direct or indirect interest in the above mentioned transaction.<br><br> About Technics Group Holdings Ltd . Technics Group is a local public-listed company , providing a comprehensive range of process equipment and support services for the Oil & gas industry in Asia Pacific. For more information abvout Technics Group, please visit the company 9s website at: www.technicsgrp.com About Global Process Systems Inc.<br><br> Global Process Systems Inc (GPS) provides turnkey services in all areas of process equipment and Process Engineering Solutions for customers in the Oil & Gas industry. GPS is strategically located in Dubai , UAE, Kuala Lumpur, Malaysia, Moscow and Houston, with branch and affiliate corporate offices throughout Europe, Asia and Middle East. GPS is 70% owned by Al Jaber Group, a multi-billion USD conglomerate headquartered in Abu Dhabi with diversified businesses ranging in infrastructure to integrated logistics.<br><br> For more information about GPS, please visit the company 9s website at : www.globalprocesssystems.com About Unocal Global E&C Unocal Global E&C is one of the world 9s leading independent natural gas and crude oil exploration and production companies with principal operations in North America and Asia. Unocal is one of the world 9s largest producers of geothermal energy with operations in Indonesia and the Philippines. More information about Unocal and its activities, including its acquisition by ChevronTexaco, is available in the company 9s website at www.unocal.com<br><br>