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Petra Energy picks up two-year Petronas contract

Malaysian offshore services player Petra Energy has picked up an open-ended contract from Petronas' explorations unit for two years till 29 January 2017.

Vincent Wee, Hong Kong and South East Asia Correspondent

February 19, 2015

1 Min Read
Kalyakan - stock.adobe.com

Petra said in a stock market announcement that its Petra Resources unit had  been awarded the umbrella contract by Petronas Carigali for spot charter marine vessel services from 2015 to 2017, with a one-year extension option on a non-exclusive basis.

Contract value is open-ended as the contract is on a call-out basis and rates based on spot market rates prevailing at the time but Petra added that the contract is expected to contribute to earnings.

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MalaysiaPetronas

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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