KUALA LUMPUR (Jan 13): T7 Global Bhd has bagged a contract from Repsol Oil & Gas Malaysia Bhd to provide maintenance, construction and modification services for Block PM3-CAA between Malaysia and Vietnam and Block PM-305 located offshore Terengganu.
The five-year contract's value will be as per work order request by Repsol.
In a bourse filing today, T7 Global said its wholly-owned subsidiary Tanjung Offshore Services Sdn Bhd has received a letter of award from Repsol for the contract.
T7 Global said the contract is expected to contribute positively towards the group's earnings and net assets per share for the financial year ending Dec 31, 2020.
“We are proud to have been awarded this contract by Repsol which demonstrates the strength of our expert capabilities in Malaysia. This contract represents a testament to the strong partnership we have with Repsol. With the continuous replenishment of our order book, we are confident of maintaining our growth momentum in the coming years,” said T7 Global chairman Datuk Seri Dr Nik Norzul Thani N Hassan Thani in a separate statement.
T7 Global shares closed up one sen or 2.3% at 44 sen in morning trade, bringing a market capitalisation of RM223.2 million.