In a filing, it said the scope of work will include the provision of a complete set of lightweight zone II slickline packages.
"This is complete with built-in hydraulic control panel and accumulator system incorporated into the reel skid for operations of the hydraulic blow-out preventer, complete set of surface pressure control equipment, hydraulic hand pump
complete with hydraulic hoses for operations of hydraulic stuffing box, portable hydraulically operated mast, x-overs and other ancillaries to support SSB/SSPC’s operations," it said.
The contract is effective from the data of the letter of award for a period of three years.
"The Contract secured will not have any effect on the share capital and shareholding structure of the Company and there will not be any immediate effect on net assets per share and gearing of the Company.
"However, the Contract is expected to contribute positively towards the earnings and net assets of the Company and its subsidiaries during the duration of Contract," it said.