KUALA LUMPUR (Oct 22): T7 Global Bhd has been awarded an umbrella contract by Petronas Carigali Sdn Bhd to provide integrated well services for intervention, workover, and abandonment for petroleum arrangement contractors (PACs).

In an exchange filing today, T7 Global said the contract, awarded to its wholly-owned Tanjung Offshore Services Sdn Bhd, is for a five-year period starting from its commencement date of Sept 20, 2019 till Sept 19, 2024.

"The contract value shall be as per work order request, which is at the full discretion of the PACs," said T7 Global.

The group expects the contract to contribute positively towards its earnings and net assets per share for its current financial year ending Dec 31, 2019.

At 2.35pm, shares in T7 Global were unchanged at 50.5 sen apiece, with 4.5 million shares traded.