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Tanjung Offshore secures $67m Petronas Carigali contract

Tanjung Offshore secures $67m Petronas Carigali contract
Despite its management troubles, Tanjung Offshore continues to do well in the tough oil and gas (O&G) business, where it has won a MYR250m ($66.6m) contract from Petronas' exploration and production arm, Petronas Carigali.

The two-year plus optional one-year extension construction work request (CWR) contract involving “topside maintenance” of Petronas Carigali’s platform for its Sarawak operations was awarded to Tanjung Offshore’s unit Tanjung Offshore Services, the company said in a stock market announcement.

Tanjung Offshore said that the scope of the CWR contract would see provisioning of works for Petronas Carigali’s existing offshore and onshore facilities in Sarawak, enabling the exploration company to maximise its operations, production and safety requirements.

Group ceo Rahman Shamsudin said the contract would benefit the company in the near term as the cost for such maintenance works had little relation with global oil prices.

“We thank Petronas for the contract award in Sarawak which we see as a vote of confidence in the services we have delivered over the years,” he said in the statement.

TAGS: Offshore