Vallianz clinches US$300m contract to supply two platforms

OFFSHORE support vessel provider Vallianz Holdings said on Monday morning that it has won a deal valued at up to US$300 million to supply two self-elevating platforms to a large national oil company in the Middle East.

They will be used to service wells at the national oil company's offshore platforms and well structures in the Arabian Gulf.

Both platforms are expected to be deployed in this current quarter for a period of five years. The customer has an option to extend the charter for another two years until 2022.

Vallianz last traded at 5 Singapore cents a share.