Icon Offshore awarded multiple contracts worth RM275m

PETALING JAYA: Icon Offshore Bhd has clinched several contracts with a total value of RM275 million.
The oil and gas service provider said it will provide offshore support vessels to oil and gas companies to support their production operations in Malaysian waters for RM169 million.
The long-term contracts are for a primary period of three years with an extension option of up to two years of one year each.
In a separate filing with the stock exchange, Icon Offshore said it had received a conditional award to provide two platform supply vessels to ExxonMobil Exploration and Production Malaysia Inc for its production operations for RM106 million. The contracts are inclusive of two optional extensions.
Icon Offshore expects these contracts to contribute positively to the group’s earnings, order book and net assets for the financial year ending December 31, 2018 and beyond.
Icon Offshore shares fell 4.2% to 11.5 sen today, on 3.4 million shares traded.