October 26 - Barakh Offshore Petroleum subsidiary PBJV Group has signed a memorandum of understanding (MoU) with Hilong Marine Engineering (HMEL) to jointly target offshore transportation and installation projects in Malaysia.
The agreement between PBJV and Hilong Holding subsidiary HMEL covers transportation and installation projects for platform heavy lifts and pipelaying, as well as full engineering, procurement, construction, installation and commissioning (EPCIC) for offshore oil and gas field development projects.
Hong Kong based oilfield equipment manufacturer HMEL owns the heavy lift and pipelay installation vessel, Hilong 106.
Terms of the MoU became effective on October 21, 2015 and will terminate after two years, at which time the parties may mutually agree to extend the expiry date.
