Dayang bags four-year contract from Roc Oil Sarawak

TheEdge Fri, May 24, 2019 06:30pm - 4 years View Original


KUALA LUMPUR (May 24): Dayang Enterprise Holdings Bhd said it has won a contract to provide procurement, construction, installation, hook-up and commissioning services for Roc Oil (Sarawak) Sdn Bhd.

The services will be provided under Roc’s Siprod (Simultaneous Production and Drilling) and Infill Drilling Campaign from 2019 to 2023.

The value of the contract is based on work orders issued by Roc Oil throughout the four-year contract duration, with an option to extend for another one year, the company said in a filing with the local bourse today.

Dayang said the contract — awarded to its wholly-owned subsidiary Dayang Enterprise Sdn Bhd — will also include other work and services generally related to the scope of works in the contract, at a fixed schedule of rates.

The contract is expected to contribute positively to the group’s earnings over the contract duration, it added.

Dayang’s share price recouped slightly today, rising three sen or 3.4% to finish at 92 sen, valuing the group at RM887.63 million.

Dayang was among Bursa Malaysia’s top 10 active stocks today, with a turnover of 34.11 million shares.

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