Repsol picks Handal for offshore crane services in Malaysia
- Business & Finance
Malaysian offshore crane services company Handal Offshore Services has been awarded a contract for the provision of offshore crane maintenance and repair services from Repsol in Malaysia.
According to a Bursa Malaysia filing on Thursday by Handal’s parent company, Handal Resources, the contract entails the provision of maintenance and repair services and provision of manpower services for 19 cranes located offshore Malaysia.
Handal said that the duration of the contract was three years which started on April 10, 2019. The deal also has an extension option of one year.
The contract does not have a specified value as it is on a call-out basis meaning that the work orders will be awarded at the discretion of Repsol based on its activity schedule and maintenance and repair schedule throughout the duration of the deal.
Repsol owns rights to six development blocks in Malaysia, one of which is an exploration block with a net surface area of 2,104 square kilometers, and five production/development blocks with a net surface area of 1,022 square kilometers.
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