Announced at the end of June, the RM150m (US$47.6m) deal will see Handal Offshore Services (HOSSB) take on responsibility for maintenance and repair work on ExxonMobil’s offshore cranes until 2017, or 2018 if a one-year contract extension option is used.
Part of the Handal Group, which claims to be the first Malaysian-founded company to serve the local oil and gas industry, HOSSB specialises in the manufacture and servicing of offshore pedestal-mounted cranes.
HOSSB is confident that the deal will have a significant positive impact on the Handal Group’s revenue and earnings during 2012.
Speaking to the Malaysia Sun Daily newspaper, Handal Group chief operating officer and executive director Zahari Hamzah said: "This contract, awarded by a major oil and gas giant, is also expected to boost our visibility within the regional market as we look to expand beyond Malaysian waters.
