KUALA LUMPUR: T7 Global Bhd has secured RM50mil work order from Petronas Carigali Sdn Bhd for the provision of plug and abandonment integrated services for Pulai A.
In a filing with Bursa Malaysia, T7 said its wholly-owned subsidiary, Tanjung Offshore Services Sdn Bhd received the word order award.
“The value of the award is approximately RM50mil based on the agreed rates as stipulated in the work order.
“The award is effective from March 29 to Dec 28, 2021,” T7 said.
In a separate statement, T7 said the work order was awarded to Tanjung Offshore under the Pan Malaysia Umbrella Contract for the provision of integrated well services for intervention, workover and abandonment for Petroleum Arrangement Contractors (PACs) where Tanjung Offshore was appointed by Petronas Carigali as one of the panel contractors back on Sept 20, 2019.
Under the Pan Malaysia Umbrella Contract, Tanjung Offshore will be participating in upcoming jobs for integrated well services for well workover and well abandonment from PACs in Malaysia.
T7 Global chairman Datuk Seri Dr Nik Norzrul Thani N. Hassan Thani said the contract win would cement its position as an integrated well services player in Malaysia and reaffirmed its technical capabilities to undertake complex offshore projects in the energy value chain.
“Integrated well services, which covers both production wells and abandonment of old wells, will form part of our long-term energy solutions for oil majors.
“We are optimistic of the local oil and gas industry due to the steady outlook for the next three years as Petronas remains committed to maximise its oil production and there are more than 500 wells planned to be plugged permanently by 2030 due to the increasing trend of idle wells.
“Over the next few years, we aim to win more similar jobs by providing innovative well solutions to Petronas and other oil majors in the region,” he added.