Malaysia: Petronas Charters Three OSVs from Tanjung Offshore

Tanjung Offshore Bhd has won long-term charter contracts from Petronas Carigali Sdn Bhd for the provision of three offshore support vessels.

The charter contracts of between one to three primary years awarded to its wholly-owned subsidiary, Tanjung Offshore Services Sdn Bhd, are valued at RM50 million.

There were options to extend the contracts for further period of up to two years, Tanjung Offshore said in a filing to Bursa Malaysia today.

The long term contracts are expected to contribute positively to its earnings and net assets for the financial year ending Dec 31, 2011 and beyond.