T7 Global’s energy unit bags RM100m worth on contracts

ENERGY solutions provider, T7 Global Bhd, has secured two letters of award (LoAs) worth a combined value of approximately RM100 million under its energy division for recruitment and manpower services and offshore construction services.

The first LoA was from the PTTEP Group of Cos for the provision of headhunting and recruitment services. The second LoA was from Hibiscus Oil & Gas (M) Ltd for the provision of facilities decommissioning services for South Angsi Alpha.

In a statement, T7 Global CEO Tan Kay Zhuin said the group is optimistic that its manpower segment will continue to grow in the region.

Meanwhile, he said the Hibiscus Oil & Gas award marks an important milestone for the company to execute offshore facility decommissioning projects of such scale.

“There is initiative for rig-to-reef by converting the structures into artificial reef to enhance the marine habitat at the intended location. We see this as a sustainable approach for oil and gas operators moving forward, which can contribute to their environmental, social and governance (ESG) agenda.

“Over the next few years, we will be on the lookout for more ESG-related projects in the region,” he remarked.

The above projects are expected to contribute positively towards T7 Global’s earnings and net assets for the next two years. — TMR