T7 Global secures contracts worth RM300m

KUALA LUMPUR: T7 Global Bhd has secured three letters of appointment and award worth a combined value of about RM300 million under its energy division for the operations and maintenance (O&M) segment and the specialist products segment.

In a filing with Bursa Malaysia today, the energy solutions provider said the letters of appointment and award were from Petroliam Nasional Bhd (Petronas) and Carigali Hess Operating Company Sdn Bhd (CHOC) to Tanjung Offshore Services Sdn Bhd, T7 Global’s wholly-owned subsidiary for the O&M segment.

It said the appointment by Petronas would see Tanjung Offshore and its technology partner Siemens AG, work together to provide distributed control systems solutions for Package A: Downstream and Package B: Upstream and petroleum arrangement companies (PAC).

“The coverage is for all of the Petronas group of companies and PACs’ onshore and offshore locations throughout Malaysia,” it said.

It said the contract bagged from CHOC is for the provision of topside construction and maintenance services for their gas facilities located in Block A-18 of the Joint Development Area administered by the Malaysian-Thailand Joint Authority and located 150km northeast of Kota Baru.

Meanwhile, it said the company’s sub-subsidiary, T7 Wenmax Sdn Bhd, secured a contract from Repsol Oil & Gas Malaysia Ltd for the specialist products segment.

It said the contract is for the provision of sales gas metering upgrade for Bunga Raya A, which is related to the upgrading of instrumentation and equipment to ensure uninterrupted functionality of the existing system.

“The awards are expected to contribute positively towards T7 Global’s earnings and net assets for the next five years,” it added. – Bernama