KUALA LUMJPUR: T7 Global Bhd
's wholly-owned subsidiary Tanjung Offshore Services Sdn Bhd has secured a contract from PETRONAS Carigali Sdn Bhd (PCSB) for the provision of low-cost jack-up drilling rig for the PETRONAS Carigali plug and abandonment programme.
In a filing with Bursa Malaysia, the group said the conract duration shall be from the effective date until completion of the 53 firm wells under the programme.
"In full consideration of Tanjung Offshore performing the works and the fulfilment of Tanjung Offshore’s other obligations under the contract, PCSB shall subject to
the provisions of the contract, pay to Tanjung Offshore in accordance with the contract price as specified in the letter of award," said T7 Global.
The board expects the award to contribute positively to the earnings and net assets of the company for the financial years ending Dec 31, 2024.
