KUALA LUMPUR (Jan 3): Petra Energy Bhd (KL:PENERGY) has secured four contracts to provide pan-Malaysia offshore services to the national oil-and-gas company Petronas and its production sharing contractors.
The jobs for undisclosed contract values involve offshore maintenance, construction, and modification (MCM) as well as hook-up and commissioning (HUC) services in Sarawak, Petra Energy said. The contracts will last five years, with extension options of three plus two years, it noted.
The contract with Petronas began on Sept 27, 2024 while its services to both JX Nippon Oil & Gas Exploration as well as ROC Oil was effective in October. The contract with SapuraOMV Upstream started on Jan 1, 2025.
Petra Energy, which mainly provides brownfield services for the upstream oil-and-gas industry, is one of the latest winners of the pan-Malaysia services contracts dished out under Petronas’ MCM and HUC initiatives.
The Edge Malaysia weekly has reported in the Oct 14-20, 2024 issue that contracts worth up to RM10 billion were up for grabs.
Shares of Petra Energy closed up two sen or 1.5% at RM1.37, valuing the company at RM439.7 million.