EXHIBIT II

SCHEDULE OF COMPENSATION

Open
 PROVISION OF ENGINEERING,
PROCUREMENT, CONSTRUCTION AND Exhibit II – Schedule of
COMMISSIONING (EPCC) OF NEW JUNKYARD Compensation
FOR PETRONAS CARIGALI IRAQ HOLDING B.V.
Page : 2 of 7
PCIHBV/2022/SCM/2884

SCHEDULE A

LUMP SUM CONTRACT PRICE

The Total Non-Escalating Fixed Lump Sum Contract Price hereinafter stated shall be for all labour,
materials, equipment and supervision as well as for performing all works necessary to complete
the WORK. No additional charges shall be payable except where expressly authorized in the
CONTRACT.

PROVISION OF ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING

(EPCC) OF NEW JUNKYARD FOR PETRONAS CARIGALI IRAQ HOLDING B.V. (PCIHBV)

1. The Total Non-Escalating Fixed Lump Sum Price stated above is the full payment to be
made to the CONTRACTOR for the completion of all of the WORK required under the
CONTRACT including, inter-alia, SBLC, insurances, labour and supervision and all costs
associated therewith; all MATERIALS and EQUIPMENT inclusive of delivery, storage,
protection, maintenance, handling and all other associated costs; consumable and
consumable materials, establishment charges including administration, telephones,
telexes etc., all temporary works and provisions; temporary offices, utilities and services
provided for PCIHBV as in the CONTRACT; overheads and profit; work items and all other
goods and services required by the CONTRACT and not specifically itemized herein, are
nevertheless included in the Price and no payment over and above the total Price shall be
paid by PCIHBV to the CONTRACTOR except where the CONTRACT specifically provides
otherwise.

2. The Non-Escalating Fixed Lump Sum CONTRACT PRICE shall include all cost of storage,
protection, fabrication, installation and others as required in the Contract documents for
PCIHBV supplied materials and equipment.

3. Payment of the Lump Sum Price stated in this Schedule A herein shall be in accordance
with Schedule B – “Milestone Event”.

4. All pricing shall be quoted in United States Dollars (“USD”). Payment will be made in
accordance with PCIHBV requirements.

5. All rates and prices shall remain firm for the duration of the CONTRACT.

Open
 PROVISION OF ENGINEERING,
PROCUREMENT, CONSTRUCTION AND Exhibit II – Schedule of
COMMISSIONING (EPCC) OF NEW JUNKYARD Compensation
FOR PETRONAS CARIGALI IRAQ HOLDING B.V.
Page : 3 of 7
PCIHBV/2022/SCM/2884

SCHEDULE OF PRICE

No. Description Unit Quantity

Unit Estimation
Rate Cost
(USD)
1 ENGINEERING AND PROJECT MANAGEMENT AND SUPERVISION

1.1 All costs necessary for Engineering LS LS

design, the production of drawings,
specifications, reports, manuals,
other engineering, and project
management work as per scope
works in Exhibit 1.
2 PROCUREMENT

2.1 All cost necessary for procurement

of material and equipment for the
PROJECT including but not limited
to material, equipment, laboratory, L.S L.S
logistics and all applicable taxes,
duties, levies, insurance etc as per
scope works in Exhibit 1.
3 CONSTRUCTION

3.1 Construction - All cost necessary

for all fabrication and construction
of the facilities and installation of
the equipment including
preliminaries, mobilization,
LS LS
demobilization, office facilities,
testing equipment, pre-
commissioning, making good the
SITE, etc as per scope works in
Exhibit 1
4 COMMISIONING

4.1 All cost necessary for performing

Commissioning as specified per LS LS
Scope of Works in Exhibit 1

TOTAL

Open
 PROVISION OF ENGINEERING,
PROCUREMENT, CONSTRUCTION AND Exhibit II – Schedule of
COMMISSIONING (EPCC) OF NEW JUNKYARD Compensation
FOR PETRONAS CARIGALI IRAQ HOLDING B.V.
Page : 4 of 7
PCIHBV/2022/SCM/2884

MILESTONE EVENT PAYMENT SCHEDULE

Payment %
of Cumulative
Milestone Portion of WORK completed and documents
CONTRACT Payment %
PRICE

1.0 ENGINEERING

All cost associate with detail design work and

Engineering services as specified in the Contract.
5 5
Note: Payment for ENGINEERING progress shall only
be transacted or processed upon successful full
mobilization of CONTRACTOR’s engineering team
and acceptance of PCIHBV engineering facilities.

2.0 PROCUREMENT

All cost necessary for Procurement of material and

equipment for the WORK a specified in the
CONTRACT including but not be limited to
material cost including commissioning spares,
forwarding, shipping, custom clearance,
transportation, delivery to site, all applicable taxes,
duties, levies, insurance, etc but excluded the
20 25
material supplied by PCIHBV.

 This portion of the CONTRACT PRICE shall be

paid monthly against CONTRACTOR’s invoice
based on the achievement of the milestone and
the actual progress of procurement for
EQUIPMENT and MATERIALS, in accordance with
the following percentages of Major
Equipment/Bulks Materials.

3.0 CONSTRUCTION
50 75
All cost associated with CONSTRUCTION including
labor, equipment, inspection, testing, consumable

Open
 PROVISION OF ENGINEERING,
PROCUREMENT, CONSTRUCTION AND Exhibit II – Schedule of
COMMISSIONING (EPCC) OF NEW JUNKYARD Compensation
FOR PETRONAS CARIGALI IRAQ HOLDING B.V.
Page : 5 of 7
PCIHBV/2022/SCM/2884

and associated overheads and other construction-

commissioning and commissioning requirement as
specified in the CONTRACT.

 Fifty Percent (50%) of the CONTRACT PRICE

shall be apportioned to the construction phase.

 This portion of the CONTRACT PRICE shall be

paid monthly against CONTRACTOR’s invoice
which shall be related to the approved Progress
Measurement by PCIHBV:

 Complete mobilization of CONTRACTOR’s

Construction Key Personnel to SITE, the list of
which shall be approved by PCIHBV and
preparation & readiness of the site camp (2%)
 Based on monthly actual progress
measurement (48%)

4.0 MECHANICAL COMPLETION

Five Percent (5%) of the CONTRACT PRICE shall be

apportioned to the System Completion shall be paid 5 80
against CONTRACTOR’s invoice upon the issuance
of MECHANICAL COMPLETION certificate for the
work by PCIHBV.

5.0 COMMISSIONING AND PERFORMANCE TEST

Two and half Percent (2.5%) of the CONTRACT

PRICE shall be paid against CONTRACTOR’s invoice 2.5 82.5
upon the issuance of Certificate for the WORK by
PCIHBV.

6.0 PROVISIONAL ACCEPTANCE

2 84.5
Two Percent (2%) of the CONTRACT PRICE shall be
paid against CONTRACTOR's invoice upon the

Open
 PROVISION OF ENGINEERING,
PROCUREMENT, CONSTRUCTION AND Exhibit II – Schedule of
COMMISSIONING (EPCC) OF NEW JUNKYARD Compensation
FOR PETRONAS CARIGALI IRAQ HOLDING B.V.
Page : 6 of 7
PCIHBV/2022/SCM/2884

issuance of CERTIFICATE OF PROVISIONAL

ACCEPTANCE by PCIHBV.

7.0 FINAL DOCUMENTATION

Three Percent (3%) of the CONTRACT PRICE shall

be paid against CONTRACTOR's invoice upon the 3 87.5
submission and approval of Final As-Built
Documentation and Electronic Data

8.0 WARRANTY PERIOD

Two Percent (2%) of the CONTRACT PRICE shall be
5.5 93
paid against CONTRACTOR's invoice upon the
submission and approval of FINAL ACCEPTANCE.

9.0 FINAL ACCEPTANCE

Two Percent (2%) of the CONTRACT PRICE shall be
paid against CONTRACTOR's invoice upon the 7 100
issuance of CERTIFICATE OF PROVISIONAL
ACCEPTANCE by PCIHBV.

END OF EXHIBIT II

Open
Open