Chairman and Group Managing Director Tan Sri AK Nathan said there were more enquiries coming in for offshore projects.
"We have submitted bids for the offshore projects.
"At present, the projects are based in the Middle East," he told reporters after announcing that Eversendai Offshore had secured a RM580 million contract from Singapore-based Vahana Offshore.
Nathan said the contracts were for the engineering, procurement, construction and the delivery of two fully equipped liftboats, namely Aryan and Arjun, in February and May 2016, respectively.
A liftboat is a self-propelled, self-elevating vessel with a relatively large open deck capable of carrying equipment and supplies in support of various offshore mineral exploration and production or offshore construction activities.
Asked on how much the offshore business would contribute to the group's revenue and net profit, he said:" About 50 per cent or even larger within the next two years".
The contract is the second for its oil and gas arm and with the latest job, the current order book is registered at RM1.68 billion.
Eversendai Corporation, an investment holding company, provides, among others, structural detailing work and services in unfolding drawings with 3-D curvatures for complex structures.