KUALA LUMPUR (April 10): Petra Energy Bhd (KL:PENERGY) has received multiple work order awards from PETRONAS Carigali Sdn Bhd related to the provision of Pan Malaysia's offshore maintenance, construction, modification (MCM) and hook-up & commissioning (HUC) services package C3.

In a filing with the bourse, the company said its unit, Petra Resources Sdn Bhd has bagged four work orders for the provision of HUC services for the Bintulu Integrated Facility (BIF) rejuvenation Project Phase 2 worth RM298 million.

The work orders are effective on Dec 1, 2025, Jan 22, 2026 and Jan 30, 2026.

The contract is expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2026 and onwards until the expiry of the contract. 

In Friday’s filing, the group said risk factors associated with the latest award include execution risks such as availability of skilled manpower, equipment and regulatory compliance requirements.

Nevertheless, it said Petra Energy will undertake measures to mitigate the risks, citing its established track record and expertise in executing similar contracts.

Shares of Petra Energy were 1.5 sen or 2.13% lower at 69 sen at Friday’s noon break, valuing the group at RM222 million.