Barakah Offshore Petroleum’s wholly-owned subsidiary, PBJV, has received a letter of award from Malaysian oil company, Petronas, for the provision of underwater services for oil and gas fields offshore East Malaysia.
According to Barakah’s Bursa Malaysia filing, the contract, which is on call-out basis, will see PBJV provide main and support vessel, air and saturation diving, remotely operated vehicle (ROV) and other related underwater services, which includes inspection, maintenance, repair, drilling support and other work to Petronas’ underwater facilities as and when necessary.
The total value of the deal will depend on the actual work orders to be issued by Petronas from time to time during the contract period.
The duration is for two years, effective from August 2016 to August 2018, with an option for one year extension.