T7 Global secures contracts valued at about RM300mil

KUALA LUMPUR: T7 Global Bhd has secured three contracts with a combined value of about RM300mil under its energy division for operations and maintenance, and specialist products segments.

In a statement, T7 Global said the contracts were awarded by Petroliam Nasional Bhd (Petronas) and Carigali Hess Operating Company Sdn Bhd (CHOC) to T7 Global's subsidiary Tanjung Offshore Services Sdn Bhd.

A sub-subsidiary of the group, T7 Wenmax Sdn Bhd, also received a letter of award from Repsol Oil & Gas Malaysia Ltd for the specialist products segment.

For the Petronas contract, Tanjung offshore with technology partner Siemens AG will provide distributed control systems solutions for Package A: Downstream and Package B: Upstream and Petroleum Arrangement Companies.

The coverage is for all of the Petronas Group of Companies and PACs’ onshore and offshore locations throughout Malaysia.

"This is a huge win for us as we continue to grow our capability in specialist products to offer innovative solutions to reputable clients such as Petronas and the other PACs," said T7 Global Chairman Datuk Seri Nik Norzrul Thani N Hassan Thani.

Tanjung Offshore's second award from CHOC was for the provision of topside construction and maintenance services for gas facilities located in Block A-18 of the joint development area administered by the Malaysian-Thailand Joint Authority (MTJA).

This CHOC award is the second contract by CHOC, following the first one dated March 31, 2020, for the provision of onshore fabrication, offshore hook-up and commissioning for infill flowlines.

Lastly, T7 Wenmax received the contract from Repsol for the provision of sales gas metering upgrade for Bunga Raya A, which is related to the upgrading of instrumentation and equipment to ensure uninterrupted functionality of the existing system.

"With these contracts, our order book has swelled to RM2.3bil and our Energy Division will be expanding over the next couple of years executing these projects,” said Nik Norzrul.

The awards are expected to contribute positively towards T7 Global’s earnings and net assets for the next five years.

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