AFX Europe (Focus): Malaysia's Petra Perdana unit wins 11 mln rgt contract from Sarawak Shell (ShellNews.net)
Sep 01, 2004
KUALA LUMPUR (AFX) - Oil and gas services provider Petra Perdana Bhd said its unit Petra Resources Sdn Bhd has been awarded an 11 mln rgt contract by Sarawak Shell Bhd (SSB) to carry out onshore fabrication and installation work at its Bintulu Stabilization (BSTAB) plant.
The plant is located within the Bintulu crude oil terminal operated by SSB.
In a statement, Petra said the contract has a term of one year, with an option to extend for another year for maintenance work.
It added that the contract will have a nominal impact on its financial results for 2004 but will contribute positively towards the group's overall earnings, so enhancing shareholder value during the period.
(1 usd = 3.8 rgt)