Friday 29 Mar 2024
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KUALA LUMPUR (June 13): E.A. Technique (M) Bhd has recently been awarded a contract by Petronas Carigali Sdn Bhd for the provision of a unit of Fast Crew Boat for Petroleum Arrangement Contractors (PACs) Production Operations, shared between Petronas Carigali and EnQuest Petroleum Production Malaysia Ltd.

In a filing with Bursa Malaysia this evening, E.A. Technique said the contract was offered vide a letter of award dated May 24, 2018.

The contract duration will be for a primary period of three years, with two extension options of one year each upon expiry thereof and shall commence sometime in July 2018.

The services shall be performed on ‘Call-Out basis’ via an order at an agreed fixed schedule of rates to be shared between the sharing PACs, based on each PAC’s actual utilization.

The contract is expected to contribute positively to the earnings and net tangible assets of E.A. Technique for the financial year ending Dec 31, 2018 (FY18) and beyond.

E.A. Technique shares closed down 1.2% to 41.5 sen today, giving it a market capitalisation of RM209.16 million.

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