Friday, October 21, 2011

Dayang unit secures contract extension from Murphy

KUALA LUMPUR: DAYANG ENTERPRISE HOLDINGS BHD []'s unit has secured a contract extension from Muphy Sabah Oil Co Ltd and Murphy Sarawak Oil Co Ltd to provide topside major maintenance services for Murphy Production Operations.

In a filing Friday, Oct 21, Dayang said the value of the contract secured by its unit Dayang Enterprise Sdn Bhd ranged approximately RM50 million to RM100 million over the duration of the contract.

It said the contract would be effective from Nov 19, 2011 until Nov 18, 2012.

Dayang however said that the contract was a "call-up contract" made up of work orders, which would be awarded at the discretion of Murphy during the duration of the contract.

It said the value of the work orders were based on the contract schedule of rates.

Dayang said the contract extension was expected to contribute positively to its for the financial year ending Dec 31, 2011 and the subsequent financial periods within the duration of the contract extension.

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