ICON Offshore, an offshore vessel support provider, has secured a contract from Petronas Carigali to provide one (1) unit of offshore support vessel (OSV) for PACs’ Production Operations.
In the filing to Bursa Malaysia on 4 October 2019, ICON Offshore said that effective date of the contract was on 5 September 2019 and the commencement date of the said vessel shall be as per hire date as stated in the Vessel’s on hire certificate. The Contract shall be for a firm period of six hundred and ninety-five (695) days, expiring on 1 August 2021, with an extension option of one (1) year plus one (1) year.
ICON Offshore said the Contract, valued at approximately RM36 million is expected to contribute positively towards the earnings and net assets of ICON for the financial year ending 31 December 2019 and beyond. Notwithstanding this, the Contract is not expected to have any material effect on the share capital and shareholding structure of ICON.
