Icon Offshore Berhad reported Wednesday that its wholly-owned subsidiary Icon Offshore Group Sdn. Bhd. has recently received a Letter of Award from Petronas Carigali Sdn Bhd (PCSB), the upstream arm of Malaysia's national oil company Petroliam Nasional Berhad (Petronas), for the provision of spot charter marine vessels.
The contract, which takes effect immediately, is for a duration of two years with an extension option of one year.
"It is a contract awarded through a competitive bidding process and as a result the value of the Umbrella Contract is unascertainable," Icon said in a filing with stock exchange Bursa Malaysia.
Icon has been awarded six out of the eight packages offered by PCSB under the contract, which allows the firm to supply marine vessels for the following categories:
Besides the provision of marine vessels under the contract, Icon will supply crew and associated equipment for a continuous 24-hour operation.
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