KUALA LUMPUR: Petra Energy Bhd's subsidiary Petra Resources Sdn Bhd has secured a contract from Petronas Carigali Sdn Bhd to provide Pan-Malaysia Offshore maintenance, construction, modification, and hook-up and commissioning services.
The contract is for five years, with an option for extension of three years plus two years.
"The contract will not have any effect on the share capital and substantial shareholders' shareholdings of Petra Energy.
"The award is expected to contribute positively to the earnings and net assets per share of the group for the duration of the contract," it said in a filing to Bursa Malaysia today.
Petra Energy said the risk factors affecting the contract comprises the operational and execution risks, which Petra Resources will take appropriate measures to eliminate or minimise.
At close today, Petra Energy's shares were up two sen or 1.48 per cent to RM1.37, giving it a market capitalisation of RM440.80 million.