Daya Materials secures Petronas Carigali services contract

KUALA LUMPUR: Daya Materials Bhd's subsidiary Daya Maxflo Sdn Bhd has received a letter of award from Petronas Carigali Sdn Bhd for the provision of downhole tools and services.

In a filing with Bursa Malaysia, the group said the Contract is to provide downhole imaging services which will be deployed on memory, real time or drill pipe conveyance system in both cased or open hole well for PCSB’s assets in East and West Malaysia.

The contract is for a duration of five years until Oct 22, 2025.

The quantity of work is on a "call-out" basis with work orders to be issues to Daya Maxflo when the services are required and at the discretion of Petronas Carigali based on the schedule of rates set forth in the contract.

The contract will have no effect on the issued and paid-up capital of the Company and is not expected to have a material effect on the earnings of Daya Materials group of companies for the financial year ending June 30, 2021, until the specific work orders is issued, it said.
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