Deleum bags gas lift valve contract from Petronas Carigali

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KUALA LUMPUR (Feb 18): Deleum Bhd has bagged a three-year contract to provide gas lift valves and insert strings equipment, accessories and services to Petronas Carigali Sdn Bhd.

In a filing with Bursa Malaysia today, Deleum said its wholly-owned subsidiary Deleum Oilfield Services Sdn Bhd (DOSSB) has received a letter of award from Petronas Carigali.

The contract will commence on Jan 7 and has a one-year extension option.

"The contract is expected to contribute positively towards the group's earnings and net assets per share for the duration of the contract," Deleum said.

Deleum shares closed up two sen or 1.8% at RM1.13 today, with 197,500 shares done, bringing a market capitalisation of RM453 million.