Malaysian offshore crane services company Handal Offshore Services has been awarded a three-year contract with ExxonMobil in Malaysia.
According to a Bursa Malaysia filing on Thursday by Handal’s parent company, Handal Resources, the contract for the provision of onshore overhaul, major repair and refurbishment services for offshore cranes to ExxonMobil Exploration and Production Malaysia was entered into on July 27.
The agreement is for the primary term of three years, effective from the date of entry until July 26, 2020, with an option for one-year extension.
The value of the services to be rendered will only be determined at the point of time that the service is being provided during the tenure of the contract, Handal noted.
In Malaysia, ExxonMobil operates under four production sharing contracts (PSCs) with the Malaysian national oil company, Petronas, producing about one-fifth of the nation’s oil production and about one-half of natural gas supplies to Peninsular Malaysia.