KUALA LUMPUR: Energy solutions provider T7 Global Bhd secured a contract to provide mini remotely operated vehicles (ROV) underwater services for Pioneer Pegasus Sdn Bhd (PPSB).
The company's wholly-owned subsidiary Tanjung Offshore Services Sdn Bhd, had on 12 July received the letter of award from the Pan-Malaysia contract holder PPSB.
With this contract, T7 Global will provide underwater inspection and maintenance services for 10 platforms accumulatively in Sabah and Sarawak using mini ROV.
T7 Global chairman Datuk Seri Dr Nik Norzrul Thani N Hassan Thani said winning this contract on such a high priority pipeline project is a testament to the company's mini ROV business.
"Our strategy has worked well since our inception in 2019 by providing our underwater inspection, maintenance and repair services through several Petronas projects.
"Now we will be focusing on expanding the client base through other offshore operators," he said in a statement today.
The contract is effective from the date of the award and is expected to be completed until the completion of the platform inspection campaign by the end of 2022.
The contract is not expected to have any material effect on the total issued share capital of T7 Global but is expected to contribute positively towards its earnings and net assets per share for the financial years ending 31 December 2021 (FY21) and FY22.