Carimin secures MCM contract from Petronas Carigali

KUALA LUMPUR: Carimin Petroleum Bhd has secured a contract for the provision of maintenance, construction and modification (MCM) services from Petronas Carigali Sdn Bhd.

The contract will be effective for a primary period of five years from Sept 20, 2017, to Sept 19, 2022, following which there will be an option for a one-year extension.

"The details of the scope of works in relation to the Contract will be addressed in a work order which will be issued by Petronas Carigali and shall include any or all other work and services which is generally related to Topside Structural Maintenance, Workover Preparation and Facilities Improvement Project," said Carimin in its announcement.

Carimin, an oil and gas engineering services company, posted net earnings of RM1.48mil in its fourth quarter ended June 30, 2017, as compared to RM342,000 in the previous corresponding quarter. For the entire financial year, it recorded a loss of RM4.37mil, compared to earnings of RM3.45mil the previous year. 

Trading in the counter was halted at the opening bell on Monday. Trading will resume from 10am on the same day.

Carimin traded unchanged at 55 sen at the previous close on Friday.