Charisma Energy clinches $90.4m offshore support vessel contract
It will provide 5 ships for a Middle Eastern oil firm.
Mainboard-listed Charisma Energy yesterday revealed that it has secured a 7-year contract with an approximate value of USD72 million to provide a fleet of 5 offshore support vessels to support the marine and oil & gas activities of a Middle Eastern national oil company in the Arabian Sea.
This project will be funded through internal resources as well as bank borrowings and is expected to commence in 3Q2014. It is expected to impact the Group’s earnings per share and net tangible asset per share for the financial year ending 31 December 2014.