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Malaysia : Kejuruteraan Samudra Timur wins contract from Lundin to provide oil country tubular goods inspection services.

Kejuruteraan Samudra Timur Bhd (KSTB) has received a contract from Lundin Malaysia BV. This contract is to provide oil country tubular goods inspection services.

According to KSTB, its wholly owned subsidiary Samudra Timur Sdn Bhd has won the contract from Lundin for a primary duration of two years, with an extension option of one year, from Sept 15, 2015.

KSTB has not revealed financial details of the contract, however it said, "such services depend on the demand and activity levels of Lundin and the scope of services rendered by Samudra Timur during the duration of the contract".

"The price and rates for each type of inspection services are stipulated in a schedule accompanying the contract," it added.

KSTB expects this contract to positively contribute towards the group's earnings and earnings per share for the current financial year ending June 30, 2016.

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Publication:Mena Report
Date:Feb 16, 2016
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