Petrofac has granted Destini Bhd a three-year contract, with a possible one-year extension, to service its wells in Malaysia. The contract is worth RM2.95 billion (US$1.36 million), and will be the first of several such contracts signed by Petrofac over the next three years. Destini Bhd shares rallied 3.85% on the news.
Petrofac has granted Destini Bhd a three-year contract, with a possible one-year extension, to service its wells in Malaysia. Its subsidiary Destini Oil Services Sdn Bhd will provide tubular handling equipment and running services, the value of which will depend on the amount of work orders issued over the duration of the contract. Destini Bhd shares rallied 3.85% on the news.