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Coastal Contracts secures RM1.24b jack-up service contract
by Cals Tue 11 Feb 2014, 01:48
Coastal Contracts secures RM1.24b jack-up service contract
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com
Monday, 10 February 2014 19:16
KUALA LUMPUR (Feb 10): Coastal Contracts Berhad announced today that its wholly owned subsidiary, Thaumas Marine Ltd, has secured a charter contract for the provision of a jack-up service with gas compression capabilities worth RM1.24 billion.
In an announcement to Bursa Malaysia, the company stated that the contract was awarded by a group of Mexican upstream contractors.
“The Jack-up charter contract worth approximately RM1.24 billion was awarded to TM from a group of Mexican upstream contractors comprising Tecnologías Relacionadas con Energía y Servicios Especializados, S.A. de C.V., Sistemas Integrales de Compresión, S.A. de C.V., Ardica Construcciones, S.A. de C.V. and Alher Oil & Gas, S.A. de C.V.”
The charter contract is for a period of eight years with an extension option of up to 12 years. It is expected to commence by the second half of 2015.
The charter contract is expected to contribute positively to the revenue stream, earnings and net assets of Coastal Group for the financial year ending 31 December 2015 and the financial periods thereafter for the duration of the charter contract, said the company.
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com
Monday, 10 February 2014 19:16
KUALA LUMPUR (Feb 10): Coastal Contracts Berhad announced today that its wholly owned subsidiary, Thaumas Marine Ltd, has secured a charter contract for the provision of a jack-up service with gas compression capabilities worth RM1.24 billion.
In an announcement to Bursa Malaysia, the company stated that the contract was awarded by a group of Mexican upstream contractors.
“The Jack-up charter contract worth approximately RM1.24 billion was awarded to TM from a group of Mexican upstream contractors comprising Tecnologías Relacionadas con Energía y Servicios Especializados, S.A. de C.V., Sistemas Integrales de Compresión, S.A. de C.V., Ardica Construcciones, S.A. de C.V. and Alher Oil & Gas, S.A. de C.V.”
The charter contract is for a period of eight years with an extension option of up to 12 years. It is expected to commence by the second half of 2015.
The charter contract is expected to contribute positively to the revenue stream, earnings and net assets of Coastal Group for the financial year ending 31 December 2015 and the financial periods thereafter for the duration of the charter contract, said the company.
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