The contract’s total value is not fixed and will depend on the amount of work orders to be issued by Petrofac to DOS throughout the contract duration which commenced on July 1, 2019, Destini said in a separate statement. Petrofac has granted Destini Bhd a three - year contract , with a possible five - year extension , to service its wells in Malaysia . Its subsidiary Destini Well 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 . The Bhd shares rallied 50 % on the news .
Petrofac has granted Destini Bhd a three - year contract , with a possible five - year extension , to service its wells in Malaysia . Its subsidiary Destini Well 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 . The Bhd shares rallied 50 % on the news .