Prospects looking up for Coastal Contracts

PETALING JAYA: TA Research has turned optimistic on the prospects of Coastal Contracts Bhd, underpinned by a number of positive developments surrounding the oil and gas services provider.

With discussions still ongoing between Coastal Contracts and Mexico’s national oil company Petroleos Mexicanos (Pemex) on the jack-up gas compression service unit (JUGCSU) contract extension, the research house updated that Pemex is inclined to convert the JUGCSU into mobile offshore production units (Mopus).