KUALA LUMPUR: T7 Global Bhd, through its wholly-owned Tanjung Offshore Services Sdn Bhd, has secured a letter of award from Petronas Carigali Sdn Bhd to provide Pan-Malaysia offshore maintenance, construction, modification and hook-up and commissioning services.
According to a filing with Bursa Malaysia, T7 Global said the contract pertains to Package C1 Peninsular Malaysia Asset (PMA).
The contract will commence on Sept 27 for five years, with an option to extend for three years after the initial term and an additional two years thereafter.
"The board envisages that the contract 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," the filing said.
T7 Global's share price rose by 1.04 per cent, gaining half a sen to reach 48.5 sen, up from 48 sen.