Uzma's Subsidiary Bags Contract Extension From Petronas Carigali Worth RM100 Mln

KUALA LUMPUR, Jan 10 (Bernama) -- Uzma Bhd’s subsidiary, Setegap Ventures Petroleum Sdn Bhd (SVP), has received a contract extension worth RM100 million for the provision of coiled tubing and services from Petronas Carigali Sdn Bhd.

In a filing to Bursa Malaysia today, Uzma said the one-year extension was effective from Dec 1, 2024, until Nov 30, 2025.

The scope of work comprises the supply of coiled tubing equipment and services for Petronas Carigali’s field offshore East Malaysia.

The contract was previously awarded on Nov 20, 2015. The first and second extensions of the contract were awarded on Nov 24, 2020 and Dec 7, 2022, respectively.

 “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, 2025, and onwards until the expiry of the contract,” Uzma said.

-- BERNAMA