Kejuruteraan Samudra Timur Wins Tubular Contract from EMEPMI

Kejuruteraan Samudra Timur Berhad has been awarded a contract from ExxonMobil Exploration and Production Malaysia Inc. ("EMEPMI") for the provision of tubular handling equipment and services for EMEPMI drilling and workover programs.

The Letter of Award is subject to the execution of a formal written contract between the parties. The duration of the contract is four years with an option for a two year extension.

Based on the level of activities as indicated in the invitation for tender documents, rates of rental for equipment and rates of services agreed and value of performance guarantee provided for the contract, KSTB envisage the total revenue will be approximately RM60.0 million to RM70.0 million over the four year contract period.