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Monday, June 23, 2014

Destini bags 2+1 year contract from Lundin (Star)

Destini Bhd’s unit Samudra Oil Services Sdn Bhd has bagged a two-year Hammer services and equipment contract from Lundin Malaysia B.V.
In a statement on Monday, Destini said the contract, which is for the Lundin drilling campaign, has an option to extend for another year.
Destini’s managing director Datuk Rozabil Rahman said the appointment is expected to contribute positively to the group’s earnings for the next two to three years.
“Moving forward, we hope to tap further into the oil and gas value chain to cross sell our other services in maintenance, repair and overhaul for safety, survival and rescue equipment for the oil and gas industry,” he added.
Samudra Oil has an order book of about RM600mil, which will keep the group busy for the next five years.

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