KUALA LUMPUR (Oct 4): Icon Offshore Bhd has secured a RM36 million contract from Petronas Carigali Sdn Bhd to provide an offshore support vessel for petroleum arrangement contractors’ production operation.

In a filing with Bursa Malaysia, Icon Offshore said the contract has a firm period of 695 days, expiring on Aug 1, 2021, with extension option of “one year plus one year”.

Icon Offshore managing director Datuk Seri Hadian Hashim said as the industry recovers, the group hopes to secure more contracts through delivering value-added services to clients.

“This contract is the latest contract won from Petronas Carigali and is a testament of their support and confidence towards us. We trust that our team’s ongoing efforts to improve the operating performance and cost efficiency have yielded results,” he said in a statement.

“Our expanding order book will lead to a better vessel utilisation and improve our financial performance. Icon Offshore’s recent announcement on contract wins was made on Sept 11, 2019 for a RM26.5 million contract from Petronas Carigali. Year-to-date, we have secured nine contracts worth approximately RM191 million inclusive of extension period,” he added.

Icon Offshore’s share price gained 0.5 sen or 12.5% to close at 4.5 sen today, giving it a market capitalisation of RM52.97 million.