Malaysia-based investment holding company Icon Offshore Berhad, announced that its new subsidiary company, POSB (Perisai Offshore Services Berhad) has received an award for the provision of the jackup drilling rig Perisai Pacific 101 (PP101), from Petrofac.
POSB is a new subsidiary which was recently acquired by ICON, via the completion of 51% shares acquisition from Perisai Petroleum Teknologi Berhad. These acquisitions by ICON also include the acquisition of PP101 Rig and purchase and assignment of intellectual property to operate the said rig.
The expected commencement of the drilling contract is in April 2021 for a primary period of 180 days with firm eight wells, and with an optional three wells extension.
The award value is approximately USD13.3 million and is expected to contribute positively to the earnings, order book and net assets of ICON for the financial year ending 31 December 2021.
Perisai Pacific 101 is a Baker Marine Pacific 400 jackup built at PPL shipyard in Singapore. Upon its delivery in June 2014, commenced a three-year contract with Petronas in Malaysia
Previously operated for Petronas on its Samarang drilling campaign in Malaysia, the unit is currently ready stacked in the country. INTEREST
Petrofac (Malaysia-PM304) Ltd is one of oil and gas producer in Malaysia, mainly in Peninsular Malaysia operating block PM304 which include Chendor and West Desaru field. The lease is located northeast of Kerteh in the South China Sea.
(Source: Icon Offshore/Infield/The Star – Image: Pacific Perisai 101 at PPL shipyard in Singapore the 21 April 2014/Rene.P/EGN)
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