Petra Perdana Lands Work from Shell

Petra Perdana Berhad's subsidiary, Petra Resources Sdn Bhd, has been awarded three contracts, namely Provision of Electrical and Instrumentation ("E&I") Maintenance Services by Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited and Provision of Offshore Crane Operations and Maintenance Services by Shell and Petronas Carigali Sdn Bhd for their Sarawak and Sabah Operations.

Under the E&I contract, PRSB will provide necessary supervision, services, facilities for on-call electrical and instrumentation maintenance services to Shell's onshore plants and offshore topside facilities of its production platforms. The contract has a primary term of three years with one extension option of two years.

Under the Offshore Crane Operations and Maintenance contracts, PRSB will provide inspection, testing, maintenance and operation of Shell's and PCSB's offshore pedestal cranes, jib cranes, overhead cranes and monorails systems. The contract has a primary term of five years with two extension options of one year each.

PRSB estimates that the three contracts to be valued at approximately RM120 million in total for the primary terms as stated above, based on the scope at the time of submission of the bid.

These contracts will contribute positively towards the Group's overall earnings, thus enhancing shareholders value over the duration of the Contract periods.