KUALA LUMPUR: T7 Global Bhd’s unit, Tanjung Offshore Services Sdn Bhd (TOSB), has bagged an umbrella contract for the provision of 600K Hydraulic Workover Unit for Petronas Carigali Sdn Bhd (PCSB).
In a filing to Bursa Malaysia today, T7 said the contract is for three years from February 6, 2018 to February 5, 2021, with an option to extend for an additional one year.
It said the umbrella contract price shall be as per work order request, at the full discretion of PCSB.
“As such, there is no firm value for the umbrella contract,” it said.
T7 said the umbrella contract is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending December 31, 2018.