PETALING JAYA: Uzma Bhd
has received a letter of award from ExxonMobil Exploration and Production Malaysia Inc (EMEPMI) for non-rig assisted, electric wireline logging equipment and services in West Malaysian waters.
In a filing with Bursa Malaysia, Uzma said the scope of work includes technical consultancy and provision of electric-line unit, logging services, tractoring, perforation interchangeable between different conveyances.
It added that the duration of the contract is for a period of three years commencing from May 3, 2024 until May 2, 2027.
“The value of this enabling contract with no guarantee of call-offs shall be based upon the agreed rates and work order, if any, issued by EMEPMI within the contract period.”
Uzma said the contract will not have any effect on the share capital and shareholding structure of the company, as it does not involve the issuance of its ordinary shares.
“However, it is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2024 and onwards until the expiry of the contract.”
