DAGANG NeXchange Bhd (DNeX), through its subsidiary DNEX Drilling Tech and Oilfield Services Sdn Bhd, has been awarded a Pan Malaysia Umbrella contract by Petronas Carigali
Sdn Bhd.
In a Bursa Malaysia filing on March 5, DNEX Drilling Tech and Oilfield Services, which was formerly known as DNeX Oilfield Services, said the contract involves providing equipment and services for directional drilling and measurement while drilling and logging.
It is valid for five years from Jan 16, 2020 to Jan 15, 2025. The contract price will depend on the work orders issued by PCSB throughout the contract duration.
“We are grateful to be given the opportunity to be part of the Pan Malaysia Umbrella Contract.
It is a testament to our efforts and expertise in providing services in this segment.
“The contract will enable us to create value and recognise further growth in the energy division,”
said DNeX executive deputy chairman Datuk Samsul Husin.
He said the contract can contribute positively to DNeX’s earnings over the next few years.
DNeX’s share price closed at 21.5 sen giving the company a market capitalisation of RM377.99 mil. – March 5, 2020
