Offshore marine service provider Perdana Petroleum Bhd has bagged vessel chartering contracts worth approximately RM9.6 million from Petronas Carigali Sdn Bhd.

In a bourse filing on Monday (March 7), Perdana Petroleum said its wholly-owned subsidiary Perdana Nautika Sdn Bhd (PNSB) received the work orders award comprising three vessel chartering contracts from Petronas Carigali on Feb 14, 2022.

Pursuant to the contracts, PNSB is to provide three units of anchor handling tug and supply vessels with crew and equipment to perform 24-hour services for assisting and servicing drilling rigs, offshore installation, derrick barges, towing and anchor jobs.

One contract carries an expected commencement date of Feb 28 with a duration of up to 130 days and an extension option of up to 30 days. Meanwhile, the other two contracts both hold an expected commencement date of March 22 with an expected duration of up to 15 days and an extension option of up to 14 days.

“The contract is expected to contribute positively to the earnings and net assets of the group 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 and project management and internal business controls,” it added.

Perdana Petroleum’s shares closed half a sen or 4.35% lower at 11 sen, giving the group a market capitalisation of RM233.69 million.

Image credit: Perdana Petroleum; Source: The Edge Markets – Izzul Ikram / Lam Jian Wyn.