Tanjung's Subsidiary Nabs Award for Maintenance Services in Malaysia

The Board of Directors of Tanjung Offshore Berhad has announced that its wholly owned subsidiary, Tanjung Offshore Services Sdn Bhd ("TOS"), has received a Letter of Award dated August 14, 2008 from Murphy Sarawak Oil Ltd. on August 19, 2008 for the provision of Operations and Maintenance Support Services for Murphy’s oil and gas production operations in Malaysia for a contract value of Fifty Million Ringgit or RM50,000,000.

DURATION OF CONTRACT

TOS is in the midst of satisfying the scope of work stipulated in the abovementioned Letter of Award involving various operations and maintenance support services within the Malaysian region which is effective August 2008 to August 2012.

FINANCIAL EFFECTS

The above mentioned contract valued at approximately RM50,000,000 is expected to contribute positively to the earnings and net assets of Tanjung for the financial year ending from December 31, 2008 to 2012.

 

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