Samudra Timur Secures Inspection Services Deal from Lundin Malaysia
Oil and gas services provider Kerjuruteraan Samudra Timur Berhad (KSTB) reported Monday that Samudra Timur Sdn. Bhd. (STSB), a wholly-owned subsidiary of KSTB has secured a contract from Lundin Malaysia B.V. to provide oil country tubular goods (OCTG) inspection services in the country, the firm said in a filing on local stock exchange Bursa Malaysia.
The contract, effective for two years with an extension option of one year, commences Sept. 15, 2015.
KSTB indicated that the value of such services depends on the demand and activity levels of Lundin as well as the scope of services rendered by STSB during the duration of the contract.
"The price and rates for each type of inspection services are stipulated in a schedule accompanying the Contract," the company said.
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