Thursday 18 Apr 2024
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KUALA LUMPUR (July 30): Barakah Offshore Petroleum Bhd has bagged a contract from Enquest Petroleum Production Malaysia Ltd to provide Pan Malaysia maintenance, construction and modification (MCM) services from 2018 to 2023 under Package A.

In a filing with Bursa Malaysia today, Barakah said its wholly-owned subsidiary PBJV Group Sdn Bhd has received a letter of award from Enquest for the contract.

"The total value of the contract is not fixed and will depend on the actual scope based on work orders to be issued by the client from time to time throughout the duration of the contract. The contract duration is for five years from July 13," the filing added.

Barakah said the contract is expected to contribute positively towards the group's earnings and net assets per share for the duration of the contract.

Barakah shares closed unchanged at 15.5 sen today, with 9.52 million shares traded, for a market capitalisation of RM128.09 million.
 

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