Barakah Offshore secures contract from Petronas Carigali - Business News | The Star Online


Barakah Offshore secures contract from Petronas Carigali

KUALA LUMPUR: Barakah Offshore Petroleum Bhd ’s unit, PBJV Group Sdn Bhd (PBJV), has secured a contract from Petronas Carigali Sdn Bhd to provide underwater services for oil and gas fields in East Malaysia.

In a filing to Bursa Malaysia on Thursday, Barakah said the contract required the provision of main and support vessel, air and saturation diving, remotely-operated vehicle and other related underwater services.

“The contract is based on call-out basis. The total value of the contract will depend on the actual work orders to be issued by Petronas Carigali from time to time during the contract period. 

“The duration is two years, which will be effective from August 2016 to August 2018, with an option for one-year extension,” it said.

Barakah said the contract was expected to contribute positively to the earnings and net assets per share of the group for the duration of the contract. - Bernama