PETALING JAYA: Uzma Bhd
has accepted a contract award from PTTEP Sarawak Oil Ltd (PTTEP) for the provision of one hydraulic workover unit (HWU) and associated services for PTTEP, pursuant to the latter’s letter of award dated July 4, 2024 and subsequently approved on Aug 5. 2024.
In a filing with Bursa Malaysia, Uzma said the scope of works comprises the provision of HWU equipment and services for PTTEP’s workover campaign on two platforms at offshore East Malaysia.
The contract will take effect on July 4, 2024, and remain valid until six firm wells are completed, unless extended or terminated earlier according to its terms and conditions.
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, 2025 and onwards until the expiry of the contract.
