Enra shares up on Petronas job in Myanmar

PETALING JAYA: Enra Group Bhd's share price went up 3.33% this morning following news that its 60%-owned subsidiary Enra SPM Sdn Bhd has clinched a US$48 million (RM206 million) contract from Petroliam Nasional Bhd's (Petronas) subsidiary PC Myanmar (Hong Kong) Ltd (PCML) for the provision of condensate storing, offloading facilities and services in Myanmar.
As at 11.03am, Enra was the top ninth gainer on Bursa Securities. Enra surged 10 sen with 42,900 shares changing hands. It has a market capitalisation of RM404.76 million.
The property and oil and gas services firm told the stock exchange yesterday that the letter of award, through an open tender process, is for the lease of a single point mooring (SPM) system and storage tanker to PCML.
The SPM system and tanker will provide condensate storing and offloading services for the Yetagun offshore gas field operated by PCML in the Andaman Sea off the coast of Myanmar.
The award is for a four-year primary period and the leasing period is estimated to commence upon the facilities being commissioned and delivered to PCML.