Fossil Energy – Drilling
Icon Offshore Bhd’s (IOB) subsidiary, I Oilfield Services Sdn Bhd (IOSB), has received a letter of award from ConocoPhillips Sarawak and ConocoPhillips Sarawak Oil to provide the jack-up rig Icon Caren for a drilling campaign.
This contract award is estimated to worth US$9.6 million.
IOB managing director Datuk Sri Hadian Hashim thanked ConocoPhillips Sarawak for their trust in engaging the company’s drilling services for their 2022 drilling campaign.
Icon Caren is IOB’s first jack-up drilling rig, and it is also the first jack-up rig in Malaysia which is PPL Pacific Class 400 with a technologically sophisticated drilling capability to drill high pressure and high temperature wells up to 30,000 feet.
The contract is expected to contribute positively to the earnings, order book and net assets of IOB for the financial year ending 31 December 2022.