Higher job flow for Uzma augurs well

PublicInvest Research said Uzma’s current orderbook was now at around RM2.2bil after it secured works amounting to RM40mil and RM230mil in January 2023.

PETALING JAYA: Job flows are coming back the way of Uzma Bhd, a positive sign as it reaffirms the outlook for the oil and gas service provider being a key beneficiary of increasing brownfield activities.

On Monday, Uzma received a contract extension from PETRONAS Carigali for the provision of coiled tubing and services for a duration of two years. The contract is valued at RM230mil, which is 15% higher as compared to the previous extension, noted PublicInvest Research.