Tanjung Offshore Berhad’s wholly owned subsidiary, Tanjung Offshore Services Sdn Bhd, was awarded contracts by Petronas Carigali Sdn Bhd for the provision of four offshore support vessels. The total charter value is approximately RM185 million, and the contracts are for a duration of up to four years, effective from August and September 2008.
The contracts from PCSB are for the provision of MV Tanjung Pinang 1 (Straight Supply Vessel), MV Tanjung Pinang 2 (Straight Supply Vessel), MV Tanjung Puteri 1 (Anchor Handling Tug & Supply Vessel) and MV Tanjung Puteri 2 (Anchor Handling Tug & Supply Vessel) to facilitate PCSB’s domestic drilling operations on a long-term basis.
Tanjung expects that these contracts will contribute positively to the earnings and net assets of the Company for the financial year ending December 31, 2008 and beyond.
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