EQ Petroleum Production Malaysia Ltd

Contract No. :
Provision of Structural Underwater Inspection Services for Block PM8(E)
Exhibit II Contract Price Schedule

EXHIBIT II - CONTRACT PRICE SCHEDULE

Table of Contents

1.0 General
2.0 Compensation and Payment
3.0 Lump Sum Prices
4.0 Fixed Unit Rates
3.0 Taxes and Duties

1.0 GENERAL
1.1 In consideration of the CONTRACTOR properly executing the WORK in accordance
with the
CONTRACT, the COMPANY shall compensate the CONTRACTOR in accordance with
the CONTRACT at the relevant prices and rates stated in this EXHIBIT II
CONTRACT PRICE SCHEDULE.

1.2 Except where it is expressly provided that an obligation shall be performed at the
cost of
COMPANY, all personnel and equipment required to be supplied or performed by
CONTRACTOR under the CONTRACT shall be at the cost to the CONTRACTOR and
deemed to be included in this EXHIBIT II CONTRACT PRICE SCHEDULE.

1.3 No other payment shall be due by COMPANY other than those specifically
mentioned in this
EXHIBIT II CONTRACT PRICE SCHEDULE of the CONTRACT.

1.4 The Prices and Rates contained in this EXHIBIT II CONTRACT PRICE
SCHEDULE herein shall remain firm for the duration of this CONTRACT shall be
 deemed to provide for any and all fluctuations in the rates and costs including but
not limited to rates and costs of salaries, wages, materials, equipment and
consumables fees, rentals, taxes, insurance and such other related items.

1.5 Unless otherwise expressly stated herein, all prices and rates are fully inclusive of
all the
CONTRACTOR's costs including but not limited to management, administration,
supervision,
personnel, labor and all cost associated therewith including salaries, wages,
holiday pay, sick pay, overtime pay, cost of attending compulsory courses and
other necessary courses, bonus, fringe benefits, taxes, overheads, profit,
insurance, commissions and safety and protective equipment and clothing and all
else necessary, incurred in the execution and completion of the Scope and in
fulfilling all obligations and liabilities of the CONTRACTOR under this including the
required warranties and guarantees.

1.6 All prices in this CONTRACT shall be expressed in Ringgit Malaysia unless
otherwise specified.

2.0 COMPENSATION AND PAYMENT

2.1 CONTRACTOR shall be compensated for the WORK completed in accordance with
the Prices and Rates comprised of Lump Sum and Fixed Unit Rates as listed herein.
CONTRACTOR shall at its expense to execute the WORK in accordance with the
EXHIBIT I SCOPE OF WORK until completion as per the terms and conditions of
this CONTRACT.

2.2 Except as otherwise expressly provided herein, Lump Sum Prices and Fixed Unit
Rates are not subject to recalculation or adjustment.

2.3 Hourly Fixed Rates shall be calculated to the nearest one-half hour.

2.4 Daily Fixed Rates and Unit Rates shall be for 24-hour calendar days.3.0 LUMP SUM
PRICES
 EQ Petroleum Production Malaysia Ltd
Contract No. :
Provision of Structural Underwater Inspection Services for Block PM8(E)
Exhibit II Contract Price Schedule

3.0 LUMP SUM PRICES

3.1 COMPANY shall compensate CONTRACTOR all the WORK specified in Table 1 Lum
Sum Prices below on lump Sum Prices upon completion of the WORK as set forth in
EXHIBIT I SCOPE OF WORK:

No. Descriptions Price Type Amount (RM)

Project Management for the

1. Lump Sum
execution of the WORK
Mobilization of ROV System
complete with LARS & TMS, Support
2. Lump Sum
Equipment, consumables and
associated Service Personnel
Provision of Inspection via item 2
3. (ROV), as specified in the Scope of Lump Sum
Work
Demobilization of ROV System
4. complete with LARS & TMS, support Lump Sum
Equipment and offshore personnel
Sea-fastening and IMCA D004 ROV
5. Lump Sum
Audit
Mobilization of Diving System
Equipment including Support
6. Lump Sum
Equipment and associated service
personnel
Provision of Inspection via item 6
7. (Diving), as specified in the Scope of Lump Sum
Work
Demobilization of Diving System
Equipment including Support
8. Lump Sum
Equipment, consumables and
associated service personnel
Sea-fastening and IMCA D023 Diving
9. Lump Sum
Audit
Deliverables including final report
10. Lump Sum
and other documentation
Total Lump Sum Price (RM)
Table 1 Lump Sum Prices

3.2 The lump sum prices above shall include all the necessary cost to perform the
WORK as specified in the Exhibit I Scope of Work and inclusive of not more than
48 hours cumulatively due to downtime on weather throughout the operation.

4.0 FIXED UNIT RATES

4.1 Rates for Changes

4.1.1 CONTRACTOR shall be compensated with Fixed Unit rates as specified in Table 2
Fixed Rates for Changes based on the following conditions:

i) COMPANY requires CONTRACTOR to perform similar WORK on other that the

location specified in the Exhibit I Scope of Work.
ii) COMPANY requires CONTRACTOR to perform additional inspections or WORK
which is not specified in the Exhibit I Scope of Work.
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 EQ Petroleum Production Malaysia Ltd
Contract No. :
Provision of Structural Underwater Inspection Services for Block PM8(E)
Exhibit II Contract Price Schedule

Contd

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 EQ Petroleum Production Malaysia Ltd
Contract No. :
Provision of Structural Underwater Inspection Services for Block PM8(E)
Exhibit II Contract Price Schedule

Contd

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 EQ Petroleum Production Malaysia Ltd
Contract No. :
Provision of Structural Underwater Inspection Services for Block PM8(E)
Exhibit II Contract Price Schedule

Contd

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 EQ Petroleum Production Malaysia Ltd
Contract No. :
Provision of Structural Underwater Inspection Services for Block PM8(E)
Exhibit II Contract Price Schedule

Table 2 Fixed Unit Rates for Changes

4.1.2 COMPANY shall have the right to determine the basis of the CONTRACTORs price
for the additional WORK as specified in 4.1.1 above in lump sum or applied the
Fixed Unit Rates directly from Table 2-Fixed Unit Rates for Changes.
4.1.3 If Lump sum Changes, CONTRACTOR shall calculate the lump sum basis based on
the specific work scope provided by COMPANY i.e. equipment, consumables, labor

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 EQ Petroleum Production Malaysia Ltd
Contract No. :
Provision of Structural Underwater Inspection Services for Block PM8(E)
Exhibit II Contract Price Schedule

and other costs associated to the additional WORK until completion by utilizing
the rates in Table 2 Fixed Unit Rates for Changes.
4.1.4 CONTRACTOR shall mobilize the equipment and personnel to perform the
additional upon issuance of Work Order from COMPANY.

4.2 Standby Rates

4.2.1 CONTRACTOR shall be compensated on standby rates as specified in Table 3
Standby Rates for Equipment and Personnel below:

Table 3 Standby Rates for Equipment and Personnel

4.2.2 The Standby Rates shall applicable based on the following conditions :
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 EQ Petroleum Production Malaysia Ltd
Contract No. :
Provision of Structural Underwater Inspection Services for Block PM8(E)
Exhibit II Contract Price Schedule

(i) In the event that the CONTRACTOR has mobilized the Equipment and Personnel
for a work program and is unable to proceed with the WORK or demobilize the
Equipment and Personnel as a result of COMPANYs order or lack of order, and
provided that CONTRACTORs Equipment has been ready for at least one (1)
day.
Payment for standby shall cease effective from the date WORK resumes or the
date of demobilization specified by COMPANY (whichever is applicable).

(ii) Downtime due to weather

Standby rate is only applicable as per the standby timesheets approved and
signed by COMPANYs REPRESENTATIVE in the event the cumulative hours due
weather exceed the 48 hours

2.6 Standby Rates are not applicable in the following situation:

(i) Time spent awaiting scheduled transport, obtaining permits to work and
CONTRACTORs compliance with any CONTRACT specification or routine
administrative formality, and any other delays not exceeding 24 hours.
(ii) Force majeure event
(iii) Normal times for transportation of CONTRACTOR PERSONNEL and
CONTRACTOR EQUIPMENT
(iv) Any other delays resulted from CONTRACTORs default.

2.7 Zero rate or no charges is payable to CONTRACTOR in the event of malfunction or

breakdown of CONTRACTOR EQUIPMENT.

2.8 CONTRACTOR shall comply with all Government Regulations and the COMPANYs
safety requirements including cost for safety trainings of CONTRACTORs
personnel at CONTRACTOR own cost.

5.0 TAXES AND DUTIES

5.1 All prices and rates specified under the Appendix II-A are exclusive of taxes and
duties. Any charges associated to taxes and duties shall be under the
CONTRACTORs account in accordance with Article 7.0 Taxes and Duties of
CONTRACT FORM. CONTRACTOR shall specify the taxes and duties rates that may
be imposed to the proposed equipment, tools, consumables, personnel and any
other items as specified under this CONTRACT.

No Taxes/Duties Element Applied Rate (%)

1 Bidder to specify Bidder to specify

2

END OF EXHIBIT II CONTRACT PRICE SCHEDULE

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