KUALA LUMPUR: T7 Global Bhd's unit Tanjung Offshore Services Sdn Bhd has received a letter of award for a job from ExxonMobil Exploration and Production Malaysia Inc.
It is for the provision of Pan-Malaysia Offshore Maintenance, Construction, Modification (MCM) and Hook-Up & Commissioning (HUC) Services for Package B2 - Guntong.
The contract will take effect from Dec 1, 2024 for a period of five years until Nov 30, 2029.
There is an option for a three-year extension and another two years after that.
In a filing with Bursa Malaysia, T7 said the award will have no effect on the total issued share capital and shareholdings of the substantial shareholders of the company.
"The board envisages that the award will contribute positively to the earnings and net assets of the company for the financial year ending Dec 31, 2024 and onwards until the expiry of the contract," it added.
T7 Global's share price rose 0.98 per cent or half a sen to 52 sen, valuing the company at RM433.02 million.