According to Tanjung’s Bursa Malaysia filing, the contract is valued at approximately RM 250 million ($66.7 million).
The duration of the contract is for two years effective from January 15, 2015, with the option to extend on the part of PCSB for an additional one year period until January 15, 2018.
According to The Star Online, Malaysia’s news provider, the contract is for maintenance of Petronas Carigali’s offshore and onshore facilities in Sarawak. The news provider also reported that Tanjung Offshore CEO, Rahman Shamsudin, has said the contract would benefit the company in the near term as the cost for such maintenance had little bearing to global oil prices.
“We thank Petronas for the contract award in Sarawak which we see as a vote of confidence in the services we have delivered over the years,” The Star Online quotes Shamsudin as saying.
Offshore Energy Today Staff