By Aidila Razak
Alam Maritim Resources Bhd today secured a contract valued at RM182 million for the provision of subsea inspection, maintenance and repair works.
The company said the contract is from an independent oil and gas exploration and production company, but did not disclose who the client is.
In a filing to Bursa Malaysia, it said that the contract awarded to Alam Maritim (M) Sdn Bhd is for a three year period, with an extension option for another year.
“The contract is expected to positively contribute to the earnings and net assets of (Alam Maritim) for the financial year ending Dec 31, 2013 up to 2017,” it said.
The same unit earlier had bagged two contracts worth RM24.9 million for underwater services for a local oil and gas company.
Alam Maritim closed at 92 sen, inching up one sen.