KUALA LUMPUR (Feb 13): T7 Global Bhd (KL:T7GLOBAL)’s subsidiary Tanjung Offshore Services Sdn Bhd has been awarded a contract by EnQuest Petroleum Production Malaysia Ltd for maintenance, construction, and modification, as well as hook-up and commissioning services under the B3 Package, with an initial duration of five years.

The upstream oil and gas (O&G) contract, which commenced on Dec 4, 2024 and runs until Dec 3, 2029, includes two extension options — three years for the first and two years for the second.

This is T7 Global’s sixth such award, which was first announced in November last year with ExxonMobil Exploration and Production Malaysia Inc as its first client, under Package B2 – Guntong.

Others include IPC Malaysia BV (Package B3), Jadestone Energy (M) Pte Ltd (Package B3), Petrofac (Malaysia-PM304) Ltd (Package B3), and Petronas Carigali Sdn Bhd (Package C1 – Peninsular Malaysia Asset).

Shares of T7 Global traded up half a sen or 1.08% to 47 sen at noon market break, giving it a market capitalisation of RM412 million.

As at Wednesday’s close, the counter was trading at 10.1 times trailing price-to-earnings ratio, compared with an average of 6.8 times, according to AskEdge data.