ExxonMobil E&P Malaysia has awarded Icon Offshore a US$10.4 million (RM42 million) contract for the provision of two straight supply vessels.
The two-year deal commenced this month, and comes with a one-year extension option, the vessels will support offshore production platforms as well as other requirements.
Icon said this first contract for 2016 will supplement the company’s order book, which stood at $169 million as of 31 December 2015. It will also provide long-term cash flow stability and earnings visibility moving forward.
Prior to this in November 2015, the firm won a one-year vessel charter with Borneo Sea Offshore valued at $12.6 million. This is for the provision of one deepwater platform supply vessel to support the production operations and well services activities of Kebabangan Petroleum Operating Co. It is for a period of two years with an extension option of one year as well.
Icon’s managing director, Encik Amir Hamzah Azizan said, “These contracts provide a significant boost to our growing portfolio, and are a promising indication despite a challenging global market. As the market improves, we hope to secure more contracts through delivering value added services for our clients and the market."