PETALING JAYA: T7 Global Bhd has received an umbrella contract from Petronas Carigali Sdn Bhd for the provision of integrated well services for intervention, workover and abandonment for petroleum arrangement contractors (PACs).
The group told Bursa Malaysia that the duration of contract is for a period of five years commencing from September 20, 2019 to September 19, 2024.
T7 global said the contract value will be as per work order request, which is at the full discretion of the PACs.
The contract is expected to contribute positively towards the group’s earnings and net assets per share for the financial year ending December 31, 2019.
At the midday break, its share price was down 1% to 50 sen on 2.31 million shares done.
