KUALA LUMPUR: Dialog Group Bhd
said its wholly-owned subsidiary Dialog Resources Sdn Bhd (DRSB) has received a letter of award from Petroliam Nasional Bhd (PETRONAS) for the Cendramas Production Sharing Contract (PSC).
Apart from DRSB, the proposed partners of the contract are Medco Asia Pacific Limited and EnQuest Petroleum Production Malaysia Limited.
"The Cendramas PSC is subject to, among others, the finalisation and execution of the Joint Operating Agreement and Cendramas PSC, and the fulfilment of all conditions precedent as stipulated by PETRONAS," said Dialog in a filing with Bursa Malaysia.
Dialog said its participation in the Cendramas PSC is an extension of its upstream business to further deepen integration and expansion across the upstream, midstream, downstream and renewable businesses of the energy sector.
The group noted it will continue to diversify its business across the energy sector to strategically position itself to weather different economic and oil price cycles, which is in line with the group’s strategy of generating long-term recurring income.
