KUALA LUMPUR: Bumi Armada Bhd’s shares rose in early trade on Bursa Malaysia today after the company announced it had secured a £50 million (RM283 million) contract from EnQuest Heather Ltd.
At 10.37am, the company’s share value increased by 5 sen to 50.5 sen, with 473,400 shares traded.
The contract was awarded to Bumi Armada UK Ltd, a wholly owned subsidiary of Bumi Armada Bhd.
The agreement involves engineering, procurement, construction, installation, and modification services for a flare gas recovery system on the Magnus platform, situated in blocks 211/12a and 211/7a in the North Sea.
“The agreement is expected to be carried out over four years,” it said.