KUALA LUMPUR (July 19): T7 Global Bhd's units have secured three contracts worth RM100 million in total.

In a filing with Bursa Malaysia today, T7 Global said Tanjung Offshore Services Sdn Bhd (TOS) had inked an agreement with VME Process Asia Pacific Pte Ltd for the provision of engineering, fabrication, procurement and supply of modular process packages in India.

It said the contract is from June 2019 and is expected to be completed in June 2020.

T7 Global said TOS had also received a service order from FPSO Ventures Sdn Bhd for the provision of remotely operated vehicles, diving support vessel, manpower and equipment for subsea services for FPSO BUNGA Kertas.

It said the service order will commence in August 2019.

Meanwhile, it said T7 Gastec Sdn Bhd, formerly known as Gas Generators (Malaysia) Sdn Bhd, had received a letter of award from PTS Resources Sdn Bhd for the supply, delivery, installation, testing and commissioning of battery system including its associate engineering services and accessories.

T7 Global said the contract is expected to commence on June 27, 2019 and be completed by April 14, 2021.

It said the contracts were expected to contribute positively to its earnings for the financial year ending Dec 31, 2019.

In a separate statement, T7 Global chairman Datuk Seri Dr Nik Norzrul Thani Nik Hassan Thani said it was a breakthrough for the group to be involved in a project in India as a contractor for VME Process.

"Also, the group has been awarded a subsea work in serving Petronas indirectly via FPSO Ventures. Propelled by the dynamic pace of the energy sector, T7 will continue extending the support to the country's growth ambitions in the energy sector.

"We have entered into a different realm where rapid structural changes are sweeping across the global energy markets. Industry players must understand their exposure to potential scenarios, each of which could have significant implications on competitive advantage," he said.

At the midday break today, T7 Global shares rose 3.19% or 1.5 sen to 48.5 sen for a market capitalisation of RM243.27 million.