Koil Energy Solutions Inc. (KLNG)

[Sulphur Mt.]

OT, but Modec related. my experience in Viet Nam would never have lead me to believe i would read this article

Late bid from Vietnam outfit sees Japanese giant lose out

FSO is snatched from Modec grasp


By Russell Searancke

An 11th hour bid by Vietnamese state-owned shipyard Vinashin has robbed Japanese giant Modec of a contract to provide a 1 million-barrel floating storage and offloading vessel for Vietnamese-Russian joint venture Vietsovpetro's (VSP) Rong (Dragon) oilfield in the Cuu Long basin.

Modec and VSP had finalised key terms and conditions, and a contract for engineering, procurement, construction, installation and commissioning was a whisker away from final approval by the Prime Minister's Office.

However, Vinashin made a surprise counter-bid that was cheaper than Modec's and pledged the same delivery in 2008.

Full details in Hardcopy here.
Friday, 20 October, 2006, 00:33 GMT | last updated: Friday, 20 October, 2006, 00:33 GMT

http://www.upstreamonline.com/live/article121354.ece