INTRODUCTION 

The Board of Directors of Perdana Petroleum Berhad (the “PPB” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Perdana Nautika Sdn Bhd (“PNSB”) has on 27 November 2024 accepted a work order from PTTEP Sabah Oil Limited (the “Charterer”) for the charter of one (1) unit of Anchor Handling Tug & Supply (“AHTS”) vessel (“Contract”) in accordance with the provisions under the Panel Contractor Contract (“PCC”) for offshore support vessel services for Petroleum Arrangement Contractors (“PACs”) dated 9 April 2024 executed between Charterer and PNSB.

DETAILS OF THE CONTRACT

The Contract, which will commence on the vessel’s on-hire certificate date (“Commencement Date”) is for a duration of three (3) years with option to extend for another three (3) years from the Commencement Date (“Charter Period”). The estimated contract value cannot be determined at this time, as it will vary based on the location to which the vessel is assigned throughout the Contract Period.  

PNSB shall provide a unit of AHTS vessel with crew and equipment to perform a continuous twenty-four (24) hours service for the purpose of assisting and/or servicing drilling rigs, offshore installations, derrick barges, towing and anchor job.

FINANCIAL EFFECTS 

The Contract is expected to contribute positively to the earnings and net assets of PPB Group for the financial year ending 31 December 2025 to 2028. The Contract will not have effect on the share capital and shareholding structure of PPB.

RISK FACTORS 

The risks associated with the Contract are normal operational risks which can be mitigated through PPB Group's system of project management and internal business controls.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS 

None of the Directors and/or major shareholders or persons connected to them have any direct or indirect interest in the Contract.

DIRECTORS' STATEMENT 

The Board of Directors of PPB is of the opinion that the acceptance of the Contract is in the best interest of PPB.

The Contract announcement is not subject to the approval of the shareholders of the Company or any regulatory authorities. However, the approval of the Charterer to release this announcement is required and the Company has on 3 July 2025 obtained the Charterer’s approval to release the same.

This announcement is dated 3 July 2025.