Malaysian oil and gas industry services provider T7 Global has through its subsidiary, Tanjung Offshore received a work order award from Petronas Carigali for the provision of plug and abandonment integrated services for Pulai A field, offshore Malaysia.
The contract is valued at around RM50 million ($12,1 million) based on the agreed rates as stipulated in the work order. The award is effective from March 29, 2021, to December 28, 2021.
The work order is awarded to Tanjung Offshore under the Pan Malaysia Umbrella Contract for the provision of integrated well services for intervention, workover, and abandonment for Petroleum Arrangement Contractors (“PACs”) where Tanjung Offshore was appointed by Petronas Carigali as one of the panel contractors back on September 20, 2019.
Under the Pan Malaysia Umbrella Contract, Tanjung Offshore will be participating in upcoming jobs for integrated well services for well workover and well abandonment from PACs in Malaysia.
T7 Global Chairman Dr. Nik Norzrul Thani Bin N. Hassan Thani said: "We are honored and thankful for this award from Petronas Carigali. This win will cement our position as an integrated well services player in Malaysia and reaffirms our technical capabilities to undertake complex offshore projects in the energy value chain.
"Integrated well services, which covers both production wells and abandonment of old wells, will form part of our long-term energy solutions for oil majors. We are optimistic of the local oil and gas industry due to the steady outlook for the next 3 years as Petronas remains committed to maximizing its oil production and there are more than 500 wells planned to be plugged permanently by 2030 due to the increasing trend of idle wells.
Over the next few years, we aim to win more similar jobs by providing innovative well solutions to Petronas and other oil majors in the region.”