Alam Maritim Resources Berhad has secured a contract from Repsol Oil & Gas Malaysia to provide subsea Inspection, Maintenance and Repair (IRM) services for PM3-CAA.
The contract will have a duration of five years.
According to ALAM, the contract value is as per the work order request by Repsol.
The contract is expected to contribute positively to the earnings and net tangible assets of ALAM for the financial year ending 31 December 2020 and within the duration of the contract.
The contract is effective since June 30, 2020, while the first vessel mobilisation is targeted for the middle of August.