KUALA LUMPUR (April 13): Integrated energy solutions provider T7 Global Bhd has bagged a RM6 million contract from Hess Exploration and Production Malaysia BV for the provision of technical and non-technical manpower.

In a bourse filing on Wednesday (April 13), T7 Global said its manpower subsidiary T7 Intelligent Resources Sdn Bhd (T7IR) received the letter of award from Hess on March 22, 2022, and it is to provide the aforementioned manpower for the latter’s North Malay Basin integrated gas development project.

The group said the contract will span a two-year period from April 1, 2022, to March 31, 2024 and carries risks that include inadequate competent resources as well as non-compliance with statutory and regulatory requirements.

“Nevertheless, T7IR will undertake all the necessary efforts to mitigate the various risk factors identified as it has established track records and expertise to undertake and execute the award,” the group added.

The group said the contract will contribute positively to its earnings and net assets for the financial year ending Dec 31, 2022, and beyond.

According to T7 Global, T7IR is principally involved in recruitment and people solutions for the energy, information communication technology, banking, financing technology and construction industries.

In a separate statement, T7 Global chairman Datuk Seri Dr Nik Norzul Thani N Hassan Thani noted that this is the group’s second manpower contract of the year. “We would like to thank Hess for their trust in our capabilities. We will continue to improve our standards to better serve our clients in the long term,” he added.

On March 30, T7 Global via T7IR had landed a manpower contract from Petroliam Nasional Bhd (Petronas) for the provision of third-party professional and support services.

At noon break on Wednesday, T7 Global shares were unchanged at 36 sen, giving the group a market capitalisation of RM272.54 million.