Saturday 27 Apr 2024
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KUALA LUMPUR (Dec 18): Destini Bhd rose 9.68% in active trade at mid-morning today after it won a three-year contract for the provision of tubular handling, conductor installation and slot recovery equipment and services for Petronas Carigali Sdn Bhd, the exploration arm of Petroliam Nasional Bhd.

At 10.14am, Destini rose 1.5 sen to 17 sen with 8.1 million shares traded.

The company said the contract was awarded to its wholly-owned Destini Oil Services Sdn Bhd (DOS) under the Pan Malaysia Petroleum Arrangement Contractors (PAC) Operators' Drilling Programme by Petronas Carigali.

Under the contract, DOS will be the primary contractor for package A, consisting of tubular handling, conductor installation and slot recovery for shallow waters in Sabah and Sarawak, and package B, which involves tubular handling for deepwaters.

In addition, DOS was appointed secondary contractor for tubular handling, conductor installation and slot recovery for shallow waters in Peninsular Malaysia.

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