Destini Bhd’s Unit Secures Contract Worth RM10 Mln

KUALA LUMPUR, Feb 25 (Bernama) -- Engineering solutions provider Destini Bhd’s subsidiary, Destini Oil Services Sdn Bhd (DOS), has secured a RM10 million contract from EnQuest Petroleum Production Malaysia Ltd (EPPML) to provide tubular running services (TRS) for offshore operations.

In a statement today, Destini said the three-year contract, effective from Jan 24, 2025, to Jan 23, 2028, will involve DOS supporting EPPML’s PM8/Seligi field operations through conductor installation, torque monitoring, and casing running.

“As part of the agreement, DOS will also provide a bank guarantee to ensure compliance with contractual obligations.

“This engagement further strengthens Destini’s role in supporting EPPML’s production optimisation and sustainability-driven gas expansion efforts,” it said. 

Destini’s executive director, Ismail Mustaffa said winning the contract from EPPML underscores the company's commitment to delivering cutting-edge TRS solutions.

“As Malaysia advances towards its production target of two million barrels per day, we remain dedicated to supporting energy players with our proven expertise as the demand for Oil Country Tubular Goods (OCTG) remains robust in the next three years, based on the latest PETRONAS Activity Outlook 2025-2027,” he said. 

The company added that the contract is expected to have a positive impact on Destini’s earnings from the financial year 2025 onwards.

“DOS has a strong track record, having previously secured major contracts, including the Pan Malaysia PAC Operators Drilling Programme with Petronas Carigali in 2018, the Carigali-PTTEPI Gulf of Thailand TRS Project in 2019, and the EnQuest Terengganu Waters TRS Contract in 2022.

“This latest win aligns with Destini’s strategy to expand its footprint in high-value upstream oil and gas services, ensuring sustainable revenue growth amid Malaysia’s increasing offshore development activities,” it added. 

-- BERNAMA