UOB Kay Hian Research said the short-term strategy (2024 to 2025) of PETRONAS’ upstream unit remained the same.
PETALING JAYA: The oil and gas (O&G) industry is expected to continue reporting contract renewals in the second-half of 2024 (2H24) in the integrated well continuity services (IWCS) as well as the maintenance, construction and modification (MCM) services following the recent IWCS contracts awarded by Petroliam Nasional Bhd (PETRONAS).
UOB Kay Hian Research said, in a report, that the catalysts have mostly been priced in, while execution risks alongside transition risks prevail.
