PETALING JAYA: T7 Global Bhd
’s wholly-owned subsidiary, Tanjung Offshore Services Sdn Bhd, has received a letter of award from PETRONAS Carigali Sdn Bhd (PCSB) for the provision of a low-cost jack-up drilling rig for the PETRONAS Carigali Plug and Abandonment Programme.
In a filing with Bursa Malaysia, T7 Global said PCSB will pay Tanjung Offshore in accordance with the contract price as specified in the letter of award.
“The award will have no effect on the total issued share capital and shareholdings of the substantial shareholders of the company for the financial year ending Dec 31, 2024.”
T7 Global said the risk factors affecting the contracts include, among others, execution risks such as inadequate competent resources and non-compliance to statutory and regulatory requirements.
