Middle East based Galana Petroleum Limited has succeeded in winning a contract to supply a total of 1.02 million barrels of jet fuel to the Maldives for delivery between April 2010 through March 2011, industry sources said on Sunday.

Galana signed the deal with the archipelago located in the Indian Ocean, at premium of $3.59 a barrel to the benchmark Middle East kerosene price, traders revealed.

In addition, the sources familiar to the deal uncover that the first delivery is slated for April.

"It is variable but the average size of each parcel is about 6,000 tonnes," the source added.

Traders reveal that Galana edged out the Emirates National Oil Company (ENOC) and European trader Vitol, for the supply tender with the Maldives.