UZMA Bhd’s wholly-owned subsidiary, Uzma Engineering Sdn Bhd (UESB), has been awarded two contracts from Petronas Carigali Sdn Bhd, as well as Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd, worth RM136 mil.
In a filing to Bursa Malaysia yesterday, Uzma said the company had secured a contract for the provision of platform wells plug and abandonment campaign for Sarawak 2020 from Shell.
The contract is to supply integrated plug and abandonment services for Sarawak Shell, whereby plug and abandonment works will be done at two Shell operated platforms involving five wells.
“The work is expected to commence in April 2020 and completed by November 2020, valued at approximately RM100 mil,” it said.
Uzma said the contract from Petronas Carigali was on an umbrella contract for the provision of well testing and tubing conveyed perforations for petroleum arrangement contractors.
“UESB will perform the light weight well testing services for 2020/2021 in accordance with the work order dated Aug 26, valued at about RM36 mil,” it said.
Uzma added both contracts were expected to contribute positively to its earnings and net assets per share for the financial year ending June 30, 2020 and onward until the expiry of the contract. – March 3, 2020, Bernama
