T7 Global clinches three contracts worth RM63m

PETALING JAYA: T7 Global Bhd has bagged three contracts with a total value of RM63 million.
The offshore oilfield services provider told Bursa Malaysia that its subsidiary Wenmax Sdn Bhd had on January 15 received a letter of award from Murphy Sarawak Oil Co Ltd for the provision of maintenance services, spare parts and consumables for Gastec nitrogen generator for Murphy production operations.
This contract is from January 15, 2018 until the completion of the contract which is expected to be ended on January 14, 2021, with an option to extend for an additional one year.
The second contract was awarded by Marine Crest Technology Sdn Bhd to T7 Global's wholly owned subsidiary T7 Marine Sdn Bhd for the upgrade of combat management system for Royal Malaysian Navy's vessel, which is expected to be completed in August 2019.
T7 Global's wholly owned subsidiary Tanjung Offshore Services Sdn Bhd also received a letter of award from CP Energy & Services Sdn Bhd for the supply of equipment and upgrading works.
The duration for the contract is from April 17, 2018 until the completion of the contract which is expected to be ended on October 16, 2018.
At the noon break, T7 Global shares gained 2.5 sen or 5.2% to 51 sen on some 10.04 million shares done.