T7 Global to operate mobile offshore production unit in Southern Gulf of Thailand

KUALA LUMPUR: T7 Global Bhd's wholly owned subsidiary Tanjung Offshore Services Sdn Bhd has entered into a contract with Busrakham G11 Ltd for the provision of leasing, operation and maintenance of a mobile offshore production unit in Nong Yao Field, in the Southern Gulf of Thailand.

It said in a filing with Bursa Malaysia the contract, with an estimated value of about RM400mil, was for a period of five years with an extension of two years.

"The Board envisages that the contract will contribute positively to the earnings and net assets of the Company for the financial periods during the duration of the contract," it said.