Tanjung wins Petronas contract

Malaysia’s Tanjung Offshore has secured a construction work request contract worth USD66.6 million Petronas Carigali.

The contract has been signed by its subsidiary, Tanjung Offshore Services, and involves the maintenance of Petronas Carigali’s offshore and onshore facilities in Sarawak, Malaysia.

Tanjung Offshore stated that the contract duration is for two years with the option to extend, on part of Petronas Carigali for an additional one year period until 15 January 2018.

The contract will have no effect on the issued and paid-up capital of Tanjung Offshore and is expected to contribute positively towards the earnings and net assets per share of the company for the financial years ending 31 December 2015 to 31 December 2018.

Previously, Tanjung Offshore was awarded an Engineering Procurement Installation Commissioning (EPIC) contract worth MYR200 million from Petronas Carigali in September 2014. The contract comprises the provision of EPIC of facilities for the Operational Reliability & Integrity Gauging of Instrument based Safeguards (ORIGInS) project that covers both Peninsular Malaysia and East Malaysia.

Source: I H Maritime 360