Destini wins tubular handling equipment and services contract

PETALING JAYA: Destini Bhd has been awarded a tubular handling equipment and services contract from Hibiscus Oil & Gas Malaysia Ltd for operations in the PM3-CAA field, an operating oil and gas field in Vietnam-Malaysia.

In a filing with Bursa Malaysia, the engineering solutions provider said the contract reinforces Destini’s strategic positioning and growing presence in Malaysia’s offshore upstream sector, which reflects continued confidence in the group’s capabilities to deliver specialised oilfield services that support safe and efficient offshore activities.

Under the three-year contract, which runs from April 24, 2025 to April 23, 2028, Destini said it will deploy its expertise in tubular running services to support Hibiscus’ PM3-CAA field operations.

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

Destini said the contract is expected to contribute positively to its earnings from financial year 2025 onwards.