HANDAL RESOURCES BERHAD ("HRB" or "the Company")
- Contract Extension by EXXONMOBIL Exploration and Production Malaysia INC.(“EXXONMOBIL”)
Announcement Details/Table Section :
The Company is pleased to announce that Handal Offshore Services Sdn Bhd (HOSSB), a wholly owned subsidiary of HRB has on 12 April 2011 received an extension of contract for the provision for crane services for EMEPMI from ExxonMobil. The contract will be extended for a further period of one (1) year commencing from 1 May 2011 to 30 April 2012.
The ExxonMobil offshore cranes service and maintenance contract is based on rates, ie manpower rates such as crane technician rates, electrician rates, crane parts rates and cranes refurbishment rates. This is almost similar to that Talisman and Petronas Carigali contracts.
The value of the contract based on the agreed rates are normally subject to the budget of the client for such contracts.
This contract is expected to contribute to the earnings of HRB Group for the financial year ending 31 December 2011.
None of the Directors or major shareholders of HRB or persons connected to them have any interest, direct or indirect, in the abovesaid contract.
This announcement is dated 12 April 2011.