15-07-2025
- Business
- New Straits Times
T7 Global unit wins oil and gas contract extension from Hibiscus
KUALA LUMPUR: T7 Global Bhd's subsidiary Tanjung Offshore Services Sdn Bhd has secured a contract extension from Hibiscus Oil & Gas Malaysia Ltd to continue providing maintenance, construction and modification (MCM) services for the PM3-CAA project.
In a filing with Bursa Malaysia, T7 Global said the contract extension is for a six-month period, commencing from June 19 until Dec 18, 2025.
The company noted that while the contract carries typical execution risks — including manpower availability, equipment readiness and regulatory compliance — Tanjung Offshore is well-positioned to manage these challenges given its track record and technical capabilities in the upstream oil and gas services sector.
"The award will have no effect on the total issued share capital and shareholdings of the substantial shareholders.
"The board envisages that the award will contribute positively to the earnings and net assets for the financial year ending Dec 31, 2025," it added.
