Petra Energy affiliate, Petra Resources, said on Nov. 14 it was awarded a provision of maintenance, construction and modification (MCM) services contract for offshore Sabah by Petronas Gas Bhd.
The duration of the contract will be for a primary period of five years, with one year extension option, and will expire on September 19, 2022.
Under the terms of the contract, Petra Resources will provide contract management, project execution, procurement and marine spread to undertake maintenance activities for Petronas Carigali’s facilities at offshore Sabah.
Petra Resources added that MCM is the group’s core competency.
The award of this contract would contribute towards the company’s overall earnings for the period thus enhancing shareholder value.
Recommended Reading
CAPP Forecasts $40.6B in Canadian Upstream Capex in 2024
2024-02-27 - The number is slightly over the estimated 2023 capex spend; CAPP cites uncertain emissions policy as a factor in investment decisions.
1 Fatality in Equinor Helicopter Training Accident Offshore Norway
2024-02-29 - Equinor employee died following the helicopter accident, the cause of which has not been reported.
Equinor Resumes Helicopter Flights on NCS Following Fatal Accident
2024-03-01 - Operator also announced it is expanding its helicopter fleet by 15 through contracts with Bell and Leonardo, with the first two helicopters slated for delivery in about a year.
Coalition Launches Decarbonization Program in Major US Cities, Counties
2024-04-11 - A national coalition will start decarbonization efforts in nine U.S. cities and counties following a federal award of $20 billion “green bank” grants.
Fire Closes Atlas Energy’s Kermit, Texas Mining Facility
2024-04-15 - Atlas Energy Solutions said no injuries were reported and the closing of the mine would not affect services to the company’s Permian Basin customers.