KUALA LUMPUR: Ocean Vantage Holdings Bhd
has secured a contract from Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Company Limited (SSPC) for the provision of a jack up drilling unit for 2024 to 2026 campaign.
In a filing with Bursa Malaysia, Ocean Vantage said its wholly-owned subsidiary, Ocean Vantage Engineering Sdn Bhd (OVE) accepted the contract from SSB and SSPC.
OVE is the appointed agent and partner for Noble in Malaysia for the provision of drill ships, semi-submersibles and jack-up drilling rigs since September 2014.
The contract is for the drilling of 11 firm wells, with the options to extend the contract.
The commencement date will be within the time window of the first quarter of 2024, unless otherwise mutually agreed upon in writing, Ocean Vantage said.
“The contract will not have any effect on the share capital and shareholding of Ocean Vantage.
“It is expected to contribute positively to the earnings and net assets per share of Ocean Vantage and its subsidiaries for the financial year ending Dec 31, 2024 and throughout the duration of the contract,” Ocean Vantage said.
