Petronas Carigali Activates Topside Maintenance Contract Off Sabah Earlier

Petronas Carigali Sdn Bhd, the upstream subsidiary of Malaysia's national oil firm Petroliam Nasional Berhad, activated a topside maintenance services contract with Petra Resources Sdn Bhd - a unit of Petra Energy Bhd - eight months earlier than scheduled, the latter said in a filing with local stock exchange Bursa Malaysia Tuesday.

The original five year contract, which Petra Resources announced May 29, 2013, was for the provision of hook up, commission and topside major maintenance services (TMM) for Sabah Operation offshore Malaysia from May 21, 2013 and May 20, 2018. The TMM was to have commence in February 2016.

Petronas Carigali has activated the TMM contract, which will now run from July 4 until May 20, 2018.

"There is no firm contract value for the TMM Services as the Contract is on a ‘call-out’ basis whereby work orders will be issued at the discretion of the client (PCSB) based on the schedule of rates as set forth in the Contract," Petra Energy said in the announcement .in the execution of contract requirements.

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