Perisai Petroleum secures jackup extension from Petronas

Malaysia’s Perisai Petroleum has announced that its subsidiary Perisai Offshore has executed the supplementary contract with Petronas for the provision of its jackup drilling rig Perisai Pacific 101.

The original contract was signed in May 2014 for duration of three years.

Under the supplementary contract, Perisai Offshore and Petronas have agreed to extend the duration of the contract based on a formula, which is primarily dependent on the prevailing market rate for the daily charter.

Unless there are changes to the prevailing market rate, the contract is expected to be extended for a period of approximately twenty months.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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