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Petronas Carigali Hands Marine Vessel Contract to Alam Maritim

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Offshore services provider Alam Maritim Resources disclosed Tuesday that it has bagged a contract, worth $188 million, from Petronas Carigali for six marine vessels.

The five-year contract, which took effect Jan.1, 2013, includes an undisclosed extension option.

Alam Maritim noted in its disclosure that the contract was expected to positively contribute to the group's earnings and net assets for the financial years ending Dec. 31, 2013 and beyond.

The company added that risks associated with the contract are mainly operational risks such as accidents and unexpected breakdown of vessels.

Alam Maritim was unreachable for further comments or additional information on the contract. 

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