Perisai Petroleum Teknologi Bhd, an upstream oil and gas offshore service provider, disclosed Monday the value of the recent Letter of Award received from Petronas Carigali Sdn Bhd, the upstream subsidiary of Malaysia's national oil and gas company Petronas, for newbuild jackup Perisai Pacific 101 (400' ILC), the company said in an announcement on local stock exchange Bursa Malaysia.
The award, which was received by Perisai's 51 percent unit Perisai Offshore Sdn Bhd April 24, is valued at $158 million for three years, with any extension to the contract subject to the mutual agreement of the parties.
The Perisai Pacific 101 jackup, currently under construction at PPL Shipyard in Singapore, is expected to commence operations for Petronas Carigali in mid 2014 in support of the latter's drilling campaign.
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