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Dayang picks up $6m Petronas maintenance job

Malaysian oil and gas services company Dayang Enterprise Holdings has been awarded a contract by Kebabangan Petroleum Operating Company for the provision of topside maintenance services, it said in a stock market release.

Vincent Wee, Hong Kong and South East Asia Correspondent

April 26, 2016

1 Min Read
Kalyakan - stock.adobe.com

The contract from the Petronas unit that operates the Kebabangan field offshore Sabah, was valued was between MYR25m ($6.3m) and MYR42m, depending on whether extension options are exercised and their duration.

Dayang said the contract would be for two years from 16 March, with an option to extend for another year. The contract is expected to contribute positively to the earnings and net assets per share of the company.

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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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