KUALA LUMPUR (March 18): Uzma Bhd said today that its wholly-owned MMSVS Group Holding Co Ltd has secured a three-year contract to provide hydraulic workover unit (HWU) services in Thailand's Bualuang field.
The contract was awarded to MMSVS by Medco Energi Thailand (Bualuang) Ltd on March 5, 2021, Uzma said in a filing today. It is Uzma's first new offshore contract announced this year.
"The duration of the contract is for a period of three years on a call-out basis where the services shall be provided upon Medco Energi's written call-out notice," said Uzma, without detailing the expected value of the contract.
Shares of Uzma traded unchanged at 86.5 sen, valuing the group at RM276.82 million.