News

Energy & Offshore

Staff Reporter

, Singapore

Published:

1 year ago

139 views

Photo from Shutterstock

Mooreast completes MBM upgrade project off Gulf of Thailand

It expects to recognise approximately $8.8m in revenue from the project in the first half of 2025.

Mooreast Holdings announced the completion of a major multi-buoy mooring (MBM) upgrade project off the Gulf of Thailand.

The company expects to recognise approximately $8.8m in revenue from the project in the first half of 2025.

Mooreast's order book remains robust, matching levels at the end of 2024. As a result, the Group anticipates its first-half revenue will surpass the $13.7m recorded in the same period last year.

Mooreast also reaffirmed its expectation that administrative and operating expenses will stay stable through 2025, with no significant increases projected. Management has been implementing cost control measures to boost overall efficiency and profitability.

Beyond oil and gas, Mooreast is sharpening its focus on the fast-growing floating wind energy sector.

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