PETALING JAYA: Icon Offshore Bhd’s wholly-owned subsidiary Icon Offshore Group Sdn Bhd (IOGSB) has been awarded a work order worth RM8 million by Petronas Carigali Sdn Bhd for the provision of straight supply vessel.
In a filing with Bursa Malaysia today, the group said its unit had on April 2, 2019 received the approval to release the announcement regarding the work order award.
The work order is for a period of 180 days from the commencement date, with an extension option of 180 days. The commencement date in respect of vessel, Tanjung Pinang 2 is March 7, 2019.
In a separate filing, the group said IOGSB has been awarded five contracts from three Petroleum Arrangement Contractors (PACs) for the provision of offshore support vessels for the PACs’ production operations.
The contracts are on a call out basis, and are valid for a period of three years with an extension option of one year plus one year.
Icon said the commencement date of the vessels shall be the vessel’s on-hire dates, of which the vessels were on hired between September 2018 and December 2018 by the PACs.
The extension options shall be exercised subject to approval obtained from the PACs respectively.
The work order award and contracts are expected to contribute positively to the group’s earnings, order book and net assets for the financial year ending Dec 31, 2019 and beyond, it added.
