Uzma bags Petronas Carigali contract

PETALING JAYA: Uzma Bhd has been awarded a three-year umbrella contract for the provision of electric wireline logging from Petronas Carigali Sdn Bhd.
In a filing with Bursa Malaysia yesterday, it said that its wholly-owned subsidiary Uzma Engineering Sdn Bhd was awarded the three-year contract, which commenced from Dec 1, 2016 till Nov 30, 2019. The contract has two extension options of one year each (3+1+1 years) for cased hole logging services across the Pan Malaysia area.
“This contract has further proven Petronas’ commitment in the development of local oil and gas players such as Uzma into more competitive areas by providing business opportunities despite the economic downturn, thereby supporting the growth of Malaysia’s oil and gas upstream services industry,” Uzma CEO Datuk Kamarul Redzuan Muhamed said in a statement yesterday.
“This will enable Uzma’s wireline division, better known as uzmaWIRELINE, to pursue potential collaboration with other international companies, which will further strengthen its presence in Malaysia; particularly for electric wireline logging services,” he added.
Upon issuance of specific work order, Uzma expects the contract to contribute positively to its future earnings.