PETALING JAYA: Alam Maritim Resources Bhd has been awarded a contract with an initial value of RM40 million for the provision of underwater inspection services for Carigali Hess Facilities.
In a filing with Bursa Malaysia, the company said its wholly owned subsidiary Alam Maritim (M) Sdn Bhd was awarded the contract by Carigali Hess Operating Company Sdn Bhd.
The four-year contract is effective from Sept 5, 2018 till Sept 4, 2022 with an option to extend up to one year.
The contract requires Alam Maritim to perform a confirmed base scope of work and “call-out” or unscheduled work for the inspection of Carigali Hess jackets, pipelines and FSO (floating storage and offloading).
The total value of the contract base scope of work and the unscheduled work will be contingent upon the unscheduled work performed by the company. The initial total value of the contract is expected to be about RM40 million.
The contract is expected to contribute positively to Alam Maritim’s earnings and net tangible assets for the financial year ending Dec 31, 2019 till 2022.
