KUALA LUMPUR: Ramunia Holdings Bhd's wholly-owned subsidiary, Ramunia Fabricators Sdn Bhd, today received a letter of award from Aquaterra Energy Ltd worth RM23.625 million.

In a filing to Bursa Malaysia, Ramunia said the contract is for the fabrication of Wellhead Support Structures consisting of two subsea structures, one topside structure and a boat landing facility for the West Desaru project.

"A formal contract shall be executed within 45 calendar days from the date of the letter of award or such extended period as may be mutually agreed to by the parties," it said.

The target load out date of the works is July 31, 2012.

"The contract will contribute positively to Ramunia's earnings for the financial year ending Dec 31, 2012," it added. - Bernama