Uzma Bhd said that its subsidiary, Uzma Engineering Sdn Bhd (UESB), has been awarded a contract by PTTEP Sarawak Oil Limited (PTTEP) for offshore workover services in East Malaysia.
In a filing with Bursa Malaysia, Uzma disclosed that the contract involves providing a hydraulic workover unit (HWU) and associated services for PTTEP’s workover campaign on two offshore platforms in East Malaysia.
The contract is set to commence on July 4, 2024, and will remain in effect until the completion of six firm wells, unless extended or terminated earlier per the contract terms.
Uzma expects this contract to positively impact the company’s earnings and net assets per share for the financial year ending June 30, 2025, and beyond.
Uzma’s shares rose by 4 sen, or 4.12%, to close at RM1.01 today, giving the company a market capitalization of RM440 million.
Source: themalaysianreserve.com
Comentários