Carimin Petroleum Berhad announced that its wholly-owned subsidiary has accepted a Letter of Award (LOA) from Carigali Hess Operating Company Sdn. Bhd.to provide two units of Anchor Handling Tug and Supply Vessels.
The Charter Party is effective from March 19, 2025, and the Charter Period is set to commence on the on-hire date of June 9, 2025, or any other date mutually agreed upon by both parties. The contract will last for a period of three years and 11 months, or until April 20, 2029, whichever occurs earlier.
Carimin Petroleum Berhad stated that the LOA is not expected to have any material impact on the net assets and gearing of CPB Group for the financial year ending June 30, 2025. However, the company anticipates that the LOA will contribute positively to the earnings of the CPB Group throughout the contract’s duration.
The potential risks associated with this contract are considered to be normal operational risks, consistent with other projects undertaken by CPB Group.
The LOA does not require approval from the Company’s shareholders or any regulatory authorities.
