Alam Maritim Resources Bhd, an oil and gas services provider, has secured a RM29 million contract to carry out free-span rectification work on a gas pipeline offshore Terengganu. The contract was awarded by Vestigo Petroleum Sdn Bhd and involves rectifying unsupported sections along the 60km Tembikai Non-Associated Gas pipeline, with the project expected to be completed within six months, according to a filing with Bursa Malaysia on Thursday.
Free-span rectification refers to the repair and support of pipeline sections that are suspended or not properly resting on the seabed, ensuring the integrity and safety of offshore infrastructure. The award marks a significant win for Alam Maritim, which has previously worked with Vestigo on the Tembikai gas development project. The two companies had been involved in a legal dispute over unpaid work under a 2019 contract, which was resolved in April 2025 when Vestigo agreed to drop its lawsuit challenging a RM52.79 million adjudication award in favor of Alam Maritim.
The latest contract reinforces Alam Maritim’s expertise in offshore pipeline services and its capability to handle technically complex projects. It also highlights the company’s ongoing collaboration with key players in Malaysia’s energy sector, as demand for reliable oil and gas infrastructure continues to grow.
Following the announcement, Alam Maritim’s shares closed one sen lower at 31.5 sen, representing a 3.08% decline and giving the company a market capitalisation of RM138.16 million.
