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Perisai’s Perisai Pacific 101 award valued at RM512m

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Perisai’s Perisai Pacific 101 award valued at RM512m Empty Perisai’s Perisai Pacific 101 award valued at RM512m

Post by Cals Tue 13 May 2014, 01:24

Perisai’s Perisai Pacific 101 award valued at RM512m
Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com   
Monday, 12 May 2014 19:01

KUALA LUMPUR (May 12): Perisai Petroleum Teknologi Bhd said its previously announced Perisai Pacific 101 provision award from Petronas Carigali Sdn Bhd is valued at RM511.7 million.

The group had earlier announced that its 51% subsidiary, Perisai Offshore Sdn Bhd, has secured a letter of award from Petronas Carigali for the provision of the jack up drilling rig, Perisai Pacific 101.

Under the contract, the jack up drilling rig will be provided to Petronas Carigali for a duration of three years.

Required works will be undertaken by Perisai's wholly owned subsidiary, Perisai Drilling Sdn Bhd, while Hercules Offshore Inc is designated as the drilling operations and maintenance manager.

Operations are expected to commence mid-2014, in support of Petronas Carigali’s drilling campaign.

The group expects the contract to “contribute positively to the group’s financial position for the financial periods comprised in the duration of the Award,” it said.
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