Malaysian operator Icon Offshore has secured a long-term charter contract for an accommodation workboat from Brunei’s SPHI Marine.
The contract will commence on March 1 for a period of three years with an option for an extension period of up to two years. The total contract value is about RM72.06m ($16.2m).
In January, Malaysian offshore drilling services company UMW Oil & Gas entered into a deal to acquire 42.3% shares of Icon Offshore and 95.5% shares of tanker operator Orkim from Ekuinas. UMV explained the rationale behind the acquisitions as an opportunity to spearhead the call for industry consolidation.
The consolidation of the three companies is expected to create a fleet of seven jack-up rigs, one semi-submersible rig, 37 OSVs, 14 clean petroleum product vessels and two liquefied petroleum gas marine transportation vessels.