According to the company’s website news release on September 20, 2022, Energy solutions provider, T7 Global Berhad (“T7 Global”) is pleased to announce that its wholly-owned subsidiary, Tanjung Offshore Services Sdn. Bhd. (“Tanjung Offshore”), has received a letter of award dated 19 August 2022 from Busrakham G11 Limited, a subsidiary of Mubadala Petroleum Group (“Mubadala Petroleum”) for the provision of Mobile Offshore Production Unit (“MOPU”) in Nong Yao field, Southern Gulf of Thailand (“the Award”). The value of the Award is approximately of RM400 million based on the management’s best estimates and the agreed rates as stipulated in the letter of award.
Under the Award, Tanjung Offshore shall be responsible for the engineering, procurement, construction, installation and commissioning of the MOPU and the subsequent leasing, operation and maintenance of the MOPU for a period of five (5) years with an extension of two years.
Busrakham G11 Limited is a subsidiary of the Mubadala Petroleum Group. Mubadala Petroleum is a leading international energy company owned by the Government of Abu Dhabi. Mubadala Petroleum manages assets and operations spanning 11 countries globally, with a primary geographic focus on the Middle East and North Africa and Southeast Asia.
“We would like to thank Mubadala Petroleum for their trust in our capabilities as a niche MOPU player in Southeast Asia. This is our third MOPU project, where the first being a converted Cendor MOPU for Petrofac and the second being a newbuild MOPU for PETRONAS Carigali.
Our MOPU solutions is a build-own-operate concept, which allow offshore operators to enable fasttrack production in marginal fields and/or to enhance hydrocarbon recovery in mature fields, with a reduced exposure in the initial capital expenditure. Looking at our recent achievements, the T7 Global
Group is confident in delivering on its promise for one major project every two years and we are exceptionally proud of this achievement as it is a win abroad. We will continue to expand our portfolio across Southeast Asia.
We are optimistic that T7 Global is now positioned to be one of the leading MOPU solution providers in Southeast Asia.” said T7 Global Group Chief Executive Officer, Tan Kay Zhuin.
“With this contract in hand, our order book has increased to RM2.6 billion and our Energy Division will be expanding over the next couple of years executing these projects,” he added.
About T7 Global Berhad
T7 Global Berhad (“T7 Global”) was incorporated on 11 August 2004 and listed on the Main Market of Bursa Malaysia Securities Berhad. T7 Global is a leading solutions provider primarily in the energy industry with strong presence over Asia serving diverse range of customers that include multi-national oil and gas companies, power and general industries throughout the world. Over the years, T7 Global has grown organically as well as through smart partnerships and strategic acquisitions with local and internationally renowned companies. More recently, T7 Global diversified its business into the Aerospace and Infrastructure Construction Industry.
For more information, please log on to http://www.t7global.com.my.
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Published on September 20, 2022 7:04 PM (GMT+8)Last Updated on September 20, 2022 7:04 PM (GMT+8)
