Silk Holdings Bhd has through its subsidiary Jasa Merin won a contract by Vestigo Petroleum to provide vessel services to support Vestigo’s drilling program and production for Tembikai Field Development in Malaysia.
The contract, starting at the third week of June 2015, is for a primary term of two years.
The contract, estimated to have a value of approximately RM 21.170 million for the primary term, is expected to contribute positively to the earnings of the Group for the financial year ending 31 July 2015 and beyond.
VESTIGO Petroleum Sdn Bhd is a subsidiary of Malaysia’s Petronas, established in 2013 to focus on Development and Production activities from small, marginal and mature fields in Malaysia and abroad.