KUALA LUMPUR (April 11): Ahmad Zaki Resources Bhd (AZRB) today announced that its has secured a two-year service contract for the provision of crew boat activity and other support services at the Tok Bali Supply Base in Kelantan.

The contract was given to AZRB subsidiary, TB Supply Base Sdn Bhd (TBSB), by Carigali Hess Operating Company Sdn Bhd. It will last till February 2019, AZRB said in a statement.

However, the value of the contract was not disclosed.

“We welcome TBSB’s signing of the service contract with Carigali Hess, which follows on the heels of our recent acquisition of a controlling stake in the supply base.

“We stand to see a significant contribution to the Group’s financial performance going forward, and would also strive to secure more production sharing contract (PSC) operators,” said AZRB group managing director Datuk Sri Wan Zakariah Wan Muda.

AZRB acquired the stake in TBSB on Jan 19 after buying 51% in the latter's holding company, Matrix Reservoir Sdn Bhd.

TBSB is the operator of the Tok Bali Supply Base, a full-service oil and gas supply base providing services such as fuel and water supply, mechanical handling and equipment, bonded warehouses, customs, immigration and quarantine (CIQ) services, as well as office spaces.

Wan Zakariah also shared that AZRB is planning to spend RM26.8 million to improve the facilities at the supply base.

“This comprises improvements to the supply base’s infrastructure, such as machinery, warehouses and land for shipyard to better serve existing and potential PSC operators,” he added.

In addition to having secured Carigali Hess as a new client, AZRB said HESS Exploration & Production Malaysia B.V. (HESS) has been a tenant at Tok Bali Supply Base since September 2015.

At 2.27pm, Shares of AZRB traded unchanged at 99.5 sen, giving the civil engineering and construction group a market capitalisation of RM479.52 million.