PT Petrosea Tbk (PTRO) hereby announces that the Company through its subsidiary, Scan-Bilt Pte. Ltd., has signed an agreement with Aster Chemicals & Energy Pte. Ltd. (Aster) to provide Engineering, Procurement & Construction (EPC) services, specifically civil works at the Aster Bukom Chemicals & Energy Complex and Aster Jurong Island Chemical Complex located on Bukom Island and Jurong Island, Singapore.
In addition, Scan-Bilt has also obtained a Letter of Award from Aster for Integrated Facilities Management (IFM) services at both facilities. The total contract value for both scopes of work amounts to USD 29.07M or approximately Rp 485.4bn with a 24-month duration.
The Aster facilities on Bukom Island and Jurong Island serve as integrated production centers for refining and petrochemical operations in Singapore, which are connected by subsea pipelines. Aster Bukom features refinery and ethylene cracker facilities, while Aster Jurong focuses on the production of key petrochemicals, including ethylene oxide, ethoxylates, styrene monomer, and propylene oxide. As its subsidiary, Scan-Bilt is fully supported by Petrosea group, as a leading multidisciplinary company with a track record of more than five decades, provides integrated services covering the entire value chain from upstream to downstream, including EPC, mining, offshore EPCI, and logistics for the mining as well as oil & gas industries in Southeast Asia and Oceania regions, including Singapore and Papua New Guinea.