This extension enables the company to provide maintenance, construction, and modification services for Package C (East Malaysia) until Dec 31, 2024, extending the original agreement that spanned from 2018 to 2023.

In a filing with Bursa Malaysia today, the integrated oil and gas services provider announced that its wholly-owned subsidiary, Dayang Enterprise Sdn Bhd, has received an extension of one year, five months, and 21 days, effective from July this year.

The company also emphasised that the extension came with a contract amendment, although specific details of the amendment were not disclosed.

Dayang Enterprise refrained from assigning a monetary value to the extension, clarifying that the valuation would be determined by the work orders issued by SapuraOMV throughout the extended duration.

“The contract will have no effect on the issued capital of the company, and is expected to contribute to the earnings of Dayang Enterprise over the duration of the contract,” it said.

At the close of trade, shares in Dayang Enterprise rose 1 sen or 0.52% to RM1.92, giving the company a market capitalisation of RM2.22 billion.