CEO Morning Brief

ExxonMobil Awards T7 Global Pan-Malaysia Offshore Maintenance Services Contract

edgeinvest
Publish date: Wed, 06 Nov 2024, 09:39 AM
edgeinvest
0 26,811
TheEdge CEO Morning Brief

KUALA LUMPUR (Nov 5): T7 Global Bhd (KL:T7GLOBAL) has secured a contract from ExxonMobil Exploration and Production Malaysia Inc for an enabling agreement for the provision of pan-Malaysia offshore maintenance, construction, modification (MCM) and hook-up commissioning (HUC) services.

The contract is for Package B2 — Guntong and awarded to its wholly owned unit Tanjung Offshore Services Sdn Bhd, said the oil and gas service provider in a bourse filing.

The contract is effective from Dec 1, 2024 for five years, with an optional extension of three years, followed by another two years.

While the group did not disclose the contract value, it envisages that the award will contribute positively to its earnings and net assets during the tenure of the contract.

At Tuesday's noon break, T7 Global shares were unchanged at 51 sen, giving the group a market capitalisation of RM429 million. The stock has risen 16% year-to-date.

Source: TheEdge - 6 Nov 2024

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment