KUALA LUMPUR (Feb 3): Oil and gas services provider Steel Hawk Bhd (KL:HAWK) has secured a one-year contract extension from Petronas Carigali Sdn Bhd for the provision of onshore facilities maintenance, construction and modification services.

The contract extension was awarded to the company’s wholly owned subsidiary Steel Hawk Engineering Sdn Bhd on Dec 31, 2024, the ACE Market-listed company said in a filing. The group said it had just last Friday (Jan 31) obtained written consent from Petronas Carigali to release the announcement.

The contract extension is for Package B in Peninsular Malaysia (Terengganu Gas Terminal and Onshore Slugcatcher), which is effective from Jan 1, 2025 until Dec 31, 2025.

No contract value was disclosed. “The contract is on a call-out basis (which does not have a fixed contract value), and we are engaged by Petronas Carigali to provide specified services for the duration of the said contract, as and when such services are required,” it said.

Steel Hawk, which had transferred to the ACE Market from the LEAP Market in September last year, expects the latest contract extension will contribute positively to its earnings for the financial year ending Dec 31, 2025.

As at 4.30pm on Monday, Steel Hawk shares were trading one sen or 2.17% higher at 47 sen, valuing the company at RM230.3 million.