T7 Global gearing poised to drop next year

This project was awarded to us by Petronas Carigali and what is notable here is that it has been years since a newly built Mopu has been commissioned in Malaysia, as most of them are usually recommissioned,” T7 chairman Datuk Seri Nik Norzrul Thani N. Hassan Thani tells StarBizWeek.“The project duration is for 10 years. This should contribute significantly to the group as the main revenue driver from next year.

T7 Global Bhd hopes to see its gearing drop following the commissioning of its Bayan Mobile Offshore Production Unit (Mopu) project.

The oil & gas (O&G) service provider says the project will be the main revenue driver for the group in the foreseeable future and the drop in gearing would be supported by the rental cashflow it will receive once the Bayan Mopu project is commissioned.