Petra Resources Sdn Bhd, a wholly owned subsidiary of Petra
Energy Bhd, has received a five-year contract from
Petronas Carigali Sdn Bhd for the provision of hook-up,
commissioning (HUC) and topside major maintenance services.
In its filing with Bursa Malaysia on Wednesday, the group
said it did not disclose the amount of the contract, but
industry sources said it is estimated to be worth 2.5 billion
ringgit ($811.69 million). The contract was awarded on May 21
and will expire in May 2018.
"The contract is expected to contribute positively to the
earnings and net assets per share of Petra Energy for the
duration of the contract", said the group.
A Petra official told The Edge Financial Daily the contract
win meant Petra was on track for its five-year plan.
"It is our ambition to move up the value chain, and this
contract will be a real turnaround for us because it is the
biggest one we've received so far," said the Petra official.
NOTE: Reuters has not verified these stories and does not
vouch for their accuracy.