Carimin wins PETRONAS Carigali project

PETALING JAYA: Carimin Petroleum Bhd (CPB) has accepted a work order award (WOA) from PETRONAS Carigali Sdn Bhd for the provision of anchor handling tug supply under the panel contractor contract for offshore support vessel services for petroleum arrangement contractors.

In a filing with Bursa Malaysia, the oil and gas company said the WOA will be for a duration of 235 days commencing from the vessel’s on-hire date and with an extension option of 30 days.

“The WOA will not have any material effect on the net assets and gearing of CPB and its subsidiaries for the financial year ending June 30, 2025. However, the WOA is expected to contribute positively to the earnings of CPB group over the duration of the WOA,” it said.

It added that the potential risks involved in the WOA are the same as any other projects undertaken by CPB group, which are considered normal operational risks.