Petra Energy Bags Gumusut Kakap FPS Topside Maintenance Services Contract

Integrated brown field services provider, Petra Energy Berhad (Petra Energy or the Group) through its wholly owned subsidiary, Petra Resources Sdn Bhd has been awarded the Topside Maintenance execution services for the Gumusut Kakap floating production system offshore Sabah, Malaysia by Sabah Shell Petroleum Company Ltd.

Under the terms of the Contract, Petra Energy will provide contract management, site execution and offshore maintenance crew to undertake maintenance activities for the Gumusut Kakap floating production system.

The contract is for a period of 14 months beginning April 1 and expiring on May 31, 2016 and is on a call-out basis – work orders will be issued at the discretion of the client based on standard schedule of rates.

The Topside Maintenance Services contract is an addition to the offshore services contract awarded in 2012 by Shell for the Gumusut Kakap project. It was the first deepwater project for Petra Energy.

Petra Energy in a statement said: "Topside maintenance and hook up commissioning is the Group’s core competency; we are very pleased with the award of the contract and thank Sabah Shell for their continued confidence in the Company."

The award of this contract would contribute positively towards the company’s overall earnings for the period thus enhancing shareholder value.

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