Handal Resources gets umbrella contract from Petronas Carigali

  • Business
  • Thursday, 01 Mar 2018

Temporary anti-dumping measures on ethanolamine products produced in the Malaysia, Saudi Arabia, Thailand and the United States is also being introduced.

KUALA LUMPUR: Handrill Sdn Bhd, a subsidiary of Handal Resources Bhd, has received a letter of award from Petronas Carigali Sdn Bhd for an umbrella contract for the provision of hydraulic workover units.

The contract commences from February 2018 for a period of three years, with a one-year extension option.

In a statement today, Handal Resources said the contract was conditional upon Handrill obtaining and maintaining a valid licence with Petroliam Nasional Bhd (Petronas).

“With the rise in crude oil prices recently, we are optimistic of seeing higher demand for various supporting services and equipment going forward.

“In this regard, we are well prepared and have the capacity to target more future opportunities from the major oil and gas players in Malaysia,” said Handal Resources group managing director and chief operating officer Mallek Rizal Mohsin. 

He said the contract from Petronas Carigali reaffirmed the industry’s confidence in the capability of Handal Group to deliver high-quality and reliable services.

“The award represents our long-term strategy in diversifying our income base during the current challenging period faced by the oil and gas industry,” he added. - Bernama
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