KUALA LUMPUR: UZMA BHD has secured an umbrella contract from Petronas Carigali Sdn Bhd for the provision of well abandonment integrated services.
The tenure of the contract is two years, with an option to extend it by another one year.
The umbrella contract, Uzma told the exchange today, does not constitute a commitment for any specific work.
"The execution of the umbrella contract is depending on work orders to be issued to Uzma from time to time at the discretion of Petronas Carigali," it said.
As such, there is no firm value for the umbrella contact.The company said it will make the required announcement as and when a material sum of work order is received under the umbrella contract.
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