BUSINESS

UZMA BAGS RM180 MLN CONTRACT FROM PETRONAS CARIGALI

23/03/2021 08:09 PM

KUALA LUMPUR, March 23 -- Uzma Bhd’s wholly-owned subsidiary, Uzma Engineering Sdn Bhd (UESB), has received a Letter of Award from Petronas Carigali Sdn Bhd for the provision of electric wireline logging (EWL) worth RM180 million.

In a filing with Bursa Malaysia, Uzma said the duration of the contract is for a period of three years, commencing from March 3, 2021 until March 2, 2024.

“UESB’s scope of work comprises non-rig assisted EWL equipment and services for West Malaysia and East Malaysia (optional scope) waters for downhole logging, perforation and well integrity evaluations,” it said.

It added that the contract is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2021 and onwards until the expiry of the contract.

-- BERNAMA


 


 


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