OMS Reports Growth, Expansion Ahead Of First Earnings Call

KUALA LUMPUR, June 20 (Bernama) -- OMS Energy Technologies Inc (OMS), a manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG), has issued a business update ahead of its inaugural earnings call following its successful Nasdaq listing in May 2025.

The company's expanding customer base, growing talent pool, and continued investment in research and development (R&D) are positioning OMS for long-term success, according to a statement.

Its Chief Executive Officer, How Meng Hock said OMS enters the public market with a solid foundation, supported by strong partnerships, manufacturing capabilities, and prudent financial management. 

OMS recently secured a letter of award from Grupo Simples Oil for SWS in Angola’s Onshore Kwanza Basin, expanding its presence in West Africa. In Indonesia, new clients such as PT Seleraya Belida and Pertamina Hulu Sanga Sanga are contributing to sales growth, while PTTEP in Thailand renewed its three-year contract effective July 1.

Long-standing partnerships continue to anchor the company’s revenue stream. A 10-year agreement with Saudi Aramco is expected to generate between US$120 million and US$200 million annually. OMS also maintains a strong supply relationship with Halliburton, with steady order volumes from its Malaysia and Singapore operations. (US$1=RM4.24)

With 11 manufacturing facilities across six countries such as Singapore, Malaysia, Brunei, Saudi Arabia, Thailand and Indonesia, OMS is strategically positioned in key oil and gas regions. The company’s localisation strategy supports eligibility for government tenders while enriching its workforce through local hiring and compliance with Saudi Arabia’s IKTVA and Indonesia’s TKDN requirements.

In product innovation, OMS invested US$1.1 million in additive manufacturing (AM) R&D to develop a metallic seal for its high-pressure-high-temperature (HPHT) gate valves. The project has completed its initial proof-of-concept phase and is expected to enhance supply chain efficiency and material selection.

OMS continues to collaborate with institutions such as the Singapore Institute of Manufacturing and Technology (SIMTech) to advance its R&D efforts. Its delivery performance under long-term contracts with Saudi Aramco and Halliburton remains strong, supported by balanced manufacturing capacity and strategic facility locations.

The company prioritises workplace safety and environmental compliance, holding ISO 9001, API Q1, ISO 45001, and ISO 14001 certifications across all manufacturing sites. It recently completed its annual surveillance audit, reinforcing its environmental, social, and governance (ESG) commitments.

Development initiatives include joint efforts with Singapore’s Agency for Science, Technology and Research (A*STAR) and SIMTech, covering energy efficiency, lifecycle analysis and digital innovation. OMS is also exploring acquisitions, joint ventures and strategic alliances to diversify revenue streams and support long-term growth.

-- BERNAMA