T7 Global stands out in domestic P&A scene

TheStar Tue, May 07, 2024 12:00am - 1 month View Original


PETALING JAYA: T7 Global Bhd is seen as a prime beneficiary of the rising global capital-expenditure upcycle, with strong earnings growth prospects and a consistent recurring income stream.

According to Phillip Research, T7 enjoys a significant competitive advantage as one of the few companies offering integrated plug and abandonment (P&A) services for oil and gas wells to clients in Malaysia.

“The P&A activities are expected to remain high in 2024, and we understand that T7 is bidding for several projects with P&A, hook-up and commissioning (HUC), and maintenance, construction, modification (MCM) work comprising 50% of its current tender book,” the research house said.

It highlighted that T7 has undertaken P&A projects in various fields for PETRONAS Carigali, including the M3 field in Sarawak, the Pulai-A field in Peninsular Malaysia, and projects under the Pan Malaysia umbrella contract covering Peninsular Malaysia, Sabah, and Sarawak.

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