Uzma wins RM17m job to provide HWU services for Petronas Carigali’s wells

Uzma wins RM17m job to provide HWU services for Petronas Carigali’s wells
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KUALA LUMPUR (Sept 12): Uzma Bhd’s unit has bagged a RM17 million contract from Petronas Carigali Sdn Bhd for the provision of light weight hydraulic workover units (HWU).

The oil and gas service and equipment provider said the scope of work comprises the integrated HWU services for Petronas Carigali’s abandoned well campaign at offshore East Malaysia.

The campaign will be for two wells, and work is expected to commence in September this year, to be completed a month later in October. 

Uzma expects this contract to contribute to its earnings for the fiscal year ending June 30, 2023.

Shares of Uzma closed unchanged at 39 sen per share on Monday (Sept 12), giving it a market capitalisation of RM137.29 million.

Lam Jian Wyn