Perdana Petroleum bags RM5.49m contract for provision of AWB vessel

Perdana Petroleum bags RM5.49m contract for provision of AWB vessel
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KUALA LUMPUR (April 20): Offshore marine service provider Perdana Petroleum Bhd has bagged a RM5.49 million contract for the provision of one unit of accommodation work barge (AWB) vessel.

In a bourse filing on Wednesday (April 20), Perdana Petroleum said its wholly-owned subsidiary Perdana Nautika Sdn Bhd (PNSB) received a work order award from the charterer Vantage Well Services Sdn Bhd, a subsidiary of Vantage Energy Group Sdn Bhd.

According to Perdana Petroleum, the work is expected to start on May 28, with PNSB to provide the charterer, the use of one unit of AWB vessel with towing facilities for the Sarawak Offshore 2022 facilities work.

Perdana Petroleum expects the contract to contribute positively to the earnings and net assets of the company for the financial year ending Dec 31, 2022.

“The risks associated with the contract are normal operational risks, which can be mitigated through the group's system of project management and internal business controls,” it added.

Perdana Petroleum’s share price finished 3.7% or half a sen lower at 13 sen on Wednesday, bringing it a market capitalisation of RM277.9 million.

Ahmad Naqib Idris