T7 Global unit secures services contract from Hibiscus Oil

KUALA LUMPUR: T7 Global Bhd via its wholly-owned subsidiary Tanjung Offshore Services Sdn Bhd has secured a contract from Hibiscus Oil & Gas Malaysia Ltd for the provision of maintenance, construction and modification (MCM) services for the PM3-CAA oil field in 2025.

In a filing with Bursa Malaysia, the group said the contract will run for six months from Dec 19, 2024, with an option to extend for six months, exercisable at Hibisicus Oil & Gas's discretion.

The board envisages that the award will contribute positively to the earnings and net assets of the company for the financial year ending Dec 31, 2024, and onwards until the expiry of the contract.