15/02/2024 07:07 PM

KUALA LUMPUR, Feb 15 (Bernama) – Uzma Bhd’s wholly owned subsidiary Uzma Engineering Sdn Bhd has accepted a term contract from Petronas Carigali Sdn Bhd for portable water injection module (PWIM) works for the Sepat platform.

Uzma said in a stock exchange filing that the contract comprises “upgrading and modification of the existing PWIM unit, decommissioning of PWIM, reinstatement of company facilities at Sepat A Well Head Platform to the original condition as well as a marine spread for demobilisation”.

The contract is a continuation of the previous award which expired on Jan 11, 2024 and is set to become effective on Jan 12, 2024, the company said.

“The contract shall remain valid for an estimated period of 20 months or until the primary contract expiry of Sepat redevelopment, whichever occurs later unless it is extended or terminated earlier by the terms and conditions of the contract,” it added.

Uzma said 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, 2024 and beyond until the expiry of the contract.


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