Dyna-Mac Secures Orders for Loaded Out Modules with Zero Loss Time Incident

Source: www.gulfoilandgas.com 6/22/2021, Location: Asia

The Board of Directors of Dyna-Mac Holdings Ltd. (“Dyna-Mac” and together with its subsidiaries, the “Group”) wishes to announce that the Group has secured additional work scope from existing customers, for a total provisional contract sum of S$8.0 million.

The Group was awarded add-on work scope for an ongoing project in the Yard. The award is for the procurement of materials and assembly work of a FPSO turret module. The Group was awarded pipe spool fabrication work as well.

The Group has completed and successfully loaded out the topside modules on FPSO MV34 for MODEC in 2Q 2021. The fast track project achieved 1.88 million manhours of work with zero losttime incident. In recognition of the effort and achievements by the project team, the Group was awarded with a project safety bonus.

The Group’s overseas JVCo. with China Merchant Group has successfully completed and loaded out the topside modules in China with zero lost-time incident. The JVCo has received a project safety bonus for this achievement.

The above orders are not expected to have a material impact on the Group’s earnings per share and net tangible assets for the current financial year ending 31 December 2021.

Gulf Oil and Gas
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