Carimin awarded maintenance, construction, modification contract

PETALING JAYA: Carimin Petroleum Bhd's wholly-owned subsidiary Carimin Engineering Services Sdn Bhd has accepted a letter of award from Petronas Carigali Sdn Bhd for the provision of maintenance, construction and modification services (Package C (Offshore) Peninsular Malaysia Oil).

The contract duration will be for a primary period of five years with one year extension option effective from Sept 20, 2017 and will expire on Sept 19, 2022, at an agreed fixed schedule of rates.

Carimin's securities was halted from trading from 9am to 10am this morning.

The contract will not have any material effect on the net assets and gearing of Carimin group for the financial year ending June 30, 2018. However, the contract is expected to contribute positively to the earnings of Carimin group over the durations of the contract.