KUALA LUMPUR (Sept 18): Dayang Enterprise Holdings Bhd’s pan Malaysia contract from PTTEP Sarawak Oil Ltd and PTTEP Sabah Oil Ltd to provide maintenance, construction and modification has been extended until Dec 31, 2024.

The original contract duration was from 2018 to mid-July 2023, the integrated oil and gas service provider said in a bourse filing.

The value of the contract is based on work orders issued by PTTEP throughout the contract duration.

“Dayang shall ensure strict compliance with the safety and operational procedures in the execution of the contract requirements,” the group said.

It added that the contract will have no effect on its issued capital, and is expected to contribute to its earnings over the duration of the contract.

Dayang shares closed up four sen or 2.19% at RM1.87 on Monday, valuing the group at RM2.17 billion.