KUALA LUMPUR (Dec 5): T7 Global Bhd (KL:T7GLOBAL) has won a contract from Petrofac (Malaysia-PM304) Ltd for the provision of pan-Malaysia maintenance, construction, modification (MCM) and hook-up and commissioning (HUC) services for Package B3.
The contract, won by T7's wholly owned unit Tanjung Offshore Services Sdn Bhd, commenced from Oct 30, for a primary period of five years.
It also has two extension options for three years and two years respectively.
For Petrofac, the contract duration shall remain valid until Sept 22, 2026.
For T7, this is the fourth such contract having received three similar five-year awards, namely one from ExxonMobil Exploration and Production Malaysia Inc for Package B2 (Guntong), and two other Package B3 awards, one from IPC Malaysia BV and another from Jadestone Energy (M) Pte Ltd.
At the time of writing, shares of T7 were unchanged at 50 sen, giving it a market capitalisation of RM423.45 million. Year-to-date, the stock has risen 13.6%.
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