T7 Global expects the two projects to contribute positively towards its earnings and net assets for the next two years.
KUALA LUMPUR: T7 Global Bhd
has bagged two projects with a combined value of about RM100mil under its energy division for recruitment and manpower as well as offshore construction services.
In a statement, the energy solutions provider said the first award was from the PTTEP Group for the provision of headhunting and recruitment services.
The second award was from Hibiscus Oil & Gas Malaysia Ltd for the provision of facilities decommissioning services for the South Angsi Alpha platform off the east coast of Peninsular Malaysia.
Group chief executive officer Tan Kay Zhuin said the company is optimistic that the manpower segment will continue to grow in the region.
“The Hibiscus award marks an important milestone for the company to execute offshore facility decommissioning projects of such scale.
“There is an initiative for rig-to-reef by converting the structures into artificial reefs to enhance the marine habitat at the intended location,” he said.
Tan noted that the company viewed this as a sustainable approach for oil and gas operators, moving forward, which can contribute to their environmental, social and governance (ESG) agenda.
“Hence, over the next few years, the company will be on the lookout for more ESG-related projects in the region,” he said.
T7 Global expects the two projects to contribute positively towards its earnings and net assets for the next two years. — Bernama
