Petra Energy Nets Major Petronas Contract (Malaysia)
Malaysia’s Petra Resources Sdn Bhd , a wholly-owned subsidiary of Petra Energy Berhad, has been awarded a contract by PETRONAS Carigali Sdn. Bhd. (“PCSB”) on 21 May 2013 for the Provision of Hook Up, Commissioning and Topside Major Maintenance Services from 2013 to 2018.
The duration of the contract is for five years effective from 21 May 2013 and will expire on 20 May 2018.
“The risks associated with the contract are mainly the normal operational and financial risks encountered by PENERGY,” said the company in a release, without disclosing any financial details of the agreement.