KUALA LUMPUR (April 24): Petra Energy Bhd (KL:PENERGY) has secured a contract from Vestigo Petroleum Sdn Bhd to provide field operations management services (FOMS) for offshore facilities in Sarawak.

In a filing, the upstream oil and gas services company said the letter of award was received by its wholly owned unit, Petra Energy Development Sdn Bhd, on March 27.

The contract covers the SK407 production sharing contract (PSC) and associated facilities offshore Miri, comprising five fields — West Lutong, Baram, Tukau, Siwa and Fairly Baram.

It does not carry a fixed value and will run for two years from April 1, 2026 to March 31, 2028.

The latest win marks Petra Energy’s second contract this month. On April 10, it secured four work orders worth RM298 million from PETRONAS Carigali Sdn Bhd for the provision of Pan Malaysia offshore maintenance, construction, modification (MCM), and hook-up and commissioning (HUC) services for the Bintulu Integrated Facility (BIF) Rejuvenation Project Phase 2.

Petra Energy currently operates the Banang late-life asset PSC offshore Terengganu and the SK433 petroleum contract onshore Miri.

The group said the contract strengthens its role in upstream asset operations and maintenance, in line with its expanding upstream presence.

Shares in Petra Energy fell 1.5 sen, or 2.1%, to 69.5 sen at the time of writing on Friday, valuing the group at RM223.6 million.