PETALING JAYA: Uzma Bhd
, which has emerged as the second-largest electrical submersible pump (ESP) provider in Thailand, intends to penetrate the Middle East market to further enhance its brand image among oil majors.
BIMB Research said Uzma’s facility in Rayong, Thailand, was founded in 2018 and gathered that it has been profitable since inception.
“Besides that, it has never made any cash call, suggesting that the business plans are well executed and sustainable.
“We admire its engineering capability that can design innovative solutions particularly for ‘artificial lift’ applications in Malaysia,” the research house said in report after a recent visit to the Rayong facility. Its competitors in the space include much more established players such as Schlumberger and Baker Hughes.
Artificial lifting is a type of enhanced oil recovery technique and the service is typically required in ageing oil fields particularly when natural pressure in a reservoir has considerably weakened and the water versus oil ratio is high.
According to BIMB Research, the two types of artificial lift prevalently being used in the industry are gas lift and ESP.
