Petra Energy to provide spot charter services for Petronas
- Business & Finance
Petra Energy Berhad’s subsidiary Petra Resources has been awarded an umbrella contract by Petronas Carigali for the provision of spot charter marine vessel services.
These services cover Petronas’ operations in Malaysia for spot charter.
The contract was awarded on January 29, 2015 and is effective from that date. The duration of the contract is two years, with expiration date set for January 28, 2017. Petronas has an extension option of one year exercisable from expiry date.
According to Petra Energy’s Bursa Malaysia filing, there is no firm contract value stated in the Letter of Award as the services are on a call out basis whereby the fees and rates will be based on the quotation at the requirement point of time i.e. during each work order bidding.
Offshore Energy Today Staff