PETALING JAYA: 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 services.
In a filing with Bursa Malaysia, the group said the contract for the PM3-CAA oil field would run for six months from Dec 19, 2024, with an option to extend for another six months, exercisable at Hibiscus Oil & Gas’ discretion.
The board envisaged that the award would contribute positively to the earnings and net assets of the company for the financial year ended Dec 31, 2024, and onwards until the expiry of the contract.
T7 Global said factors affecting the contract included, amongst others, execution risks such as availability of skilled manpower, equipment and regulatory conditions.
