Pursuant to paragraph 9.04(g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Malaysia”), Barakah Offshore Petroleum Berhad ("the Company") wishes to announce that its wholly-owned subsidiary, PBJV Group Sdn Bhd (“PBJV”) has, on 10 September 2021, received notification from its appointed solicitors that an Adjudication Claim had been served against Enquest Petroleum Production Malaysia Ltd (“ENQUEST”) on 6 September 2021 through ENQUEST’s appointed solicitors for the total sum of RM73,570,587.19 (“Outstanding Sum”), breakdown of which are as follows:-

(a) RM73,570,587.19 or a sum to be determined for the works carried out and completed up until the year 2020 by PBJV; and
(b) Interest of RM3,565,701.16 as the pre-award interest on the sum of RM73,570,587.19 as at 03.05.2021 [at the rate of 5% per annum from date of adjudication notice until date of full settlement]; and
(c) Further interest, at a rate of 5%, on the adjudication sum calculated from the service of the Payment Claim until the date of full and final payment; and
(d) Costs in the sum of RM274,995.69 or a sum to be determined or as may be further incurred later; and
(e) Such further and other Relief to be assessed by Adjudicator.

This is a claim by PBJV for works done and/or services rendered for the Outstanding Sum up until the year 2020 pursuant to a letter of award bearing ref no.: EQ(SCM)/PBBJV/18/115-AD dated 13.07.2018 and signed on 16.07.2018 whereby PBJV was thereafter engaged by ENQUEST as the contractor for the execution of the Provision of Pan Malaysia Maintenance, Construction and Modification (“PM-MCM”) Contract bearing contract no.: EN17051 for year 2018 to 2023-Package A (the “Project”).

The Company will make the appropriate announcements to Bursa Malaysia as and when there are material developments in relation thereof.

This announcement is dated 10 September 2021.