Uzma gets RM230mil contract extension from PETRONAS Carigali

KUALA LUMPUR: Uzma Bhd has received a contract extension worth RM230mil from PETRONAS Carigali Sdn Bhd (PCSB) for the provision of coiled tubing and services for PCSB – East Region.

In a filing with Bursa Malaysia, Uzma said its subsidiary Setegap Ventures Petroleum Sdn Bhd (SVP) received a letter of contract amendment and extension dated Dec 7, 2022, from PCSB for an extension of a further two years for the contract.

The duration of the extension is for a period of two years commencing from Dec 1, 2022, until Nov 30, 2024.

The contract was previously awarded on Nov 20, 2015. The first extension of the contract was awarded on Nov 24, 2020.

Uzma expects the contract to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2023 and onwards until the expiry of the letter of extension.

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Uzma , PETRONAS Carigali


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