SINGAPORE (Oct 29): Technology solutions provider CSE Global has secured two new oil and gas project contracts worth US$74.7 million ($103.7 million) in the Americas region.
In a regulatory filing on Tuesday, the group announced that the new orders involve projects ranging from design, fabrication and construction, as well as engineering and integration of production control systems and equipment.
Other projects include areas such as chemical injection pump skids to support production of subsea wells, operation of subsea gas trunk lines and other subsea infrastructure, specifically the subsea production well control system, chemical injection systems, annulus pressure management systems.
Group Managing Director of CSE Global Lim Boon Kheng says, “We are delighted to have secured the oil and gas contracts and seeing our customers continue to leverage on our expertise and placing their trust in our solutions and services. These projects are expected to contribute positively to CSE’s financial performance for the financial years in 2020 and beyond.”
CSE Global reported that these contracts are not expected to have any material impact on the consolidated net tangible assets per share or earnings per share of the group for the current financial year.
Shares in CSE Global closed flat at 48 cents on Tuesday prior to the announcement.
