Icon Offshore Wins Petronas Contract

Laxman Pai
Thursday, September 12, 2019

Icon Offshore Group Sdn Bhd (IOGSB), a wholly-owned subsidiary of Icon Offshore Bhd, has bagged a contract from Petronas Carigali Sdn Bhd to supply an offshore support vessel (OSV).

In a stock exchange filing, the Malaysian offshore service provider announced that its unit Icon Offshore Sdn Bhd was awarded the contract following an amendment to the letter of contract on Aug 16, and only received approval from Petronas Carigali to release the news yesterday.

The service provider of offshore support vessels said that the RM 25.60 million contract took effect on Aug 16 and would be for 730 days.

"We hope to secure more contracts by delivering value-added services to our clients and the market. Contract wins such as this continue to bolster the company’s credentials as Malaysia’s largest OSV provider,” said Icon Offshore managing director Datuk Seri Hadian Hashim.

The group noted that the contract is expected to positively contribute to its earnings and net assets for the financial year ending Dec 31, 2019 and beyond.

Year to date, it has secured eight contracts worth RM 174 million inclusive of extension periods.

Categories: Offshore Energy Support Vessel Contract

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