Business News

Monday, 6 February 2017 | MYT 8:30 PM

Uzma secures three-year Petronas contract

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has awarded a three-year umbrella contract to Uzma Bhd’s wholly-owned subsidiary Uzma Engineering Sdn Bhd to provide electric wireline logging (EWL).

(Wireline logs provide downhole measurements through electrical wireline to help drillers, engineers and geologists.)

Uzma told Bursa Malaysia that the contract won by its geoscience and reservoir engineering services unit would end on Nov 30, 2019.

There are two extension options of one year each for cased hole logging services across the “Pan Malaysia” area.

Uzma did not give the value of the deal.

Uzma managing director and chief executive officer Datuk Kamarul Redzuan Muhamed (pic) said the contract was proof of the national oil company’s commitment to develop the local oil and gas players into more competitive areas by providing business opportunities despite the economic downturn.

“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 EWL services,” he said.

Uzma said uzmaWIRELINE has a proven track record through its contract with Petronas Carigali Sdn Bhd over the past two years.


Tags / Keywords: Corporate News , Oil & Gas , Petroliam Nasional Bhd , Uzma Bhd

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