Reservoir Link Energy Bhd (RLEB) announced that Reservoir Link Solutions Sdn Bhd (“RL Solutions”), a 60% owned subsidiary of RLEB, has received a letter of award dated 18 April 2022 from SEA Hibiscus Sdn Bhd for the Contract. SEA Hibiscus is an indirect wholly-owned subsidiary of Hibiscus Petroleum Berhad.
In a Bursa Filing, it said that RLEB’s scope of work includes the supply of equipment, chemicals, a Technical Support Team, and provision of a laboratory facility to conduct laboratory testing, studies and expert interpretative services as required by SEA Hibiscus in relation to identifying opportunities for wells production enhancement and rejuvenation.
The duration of this Contract is for three (3) years effective 18 April 2022 to 17 April 2025 and the risks associated with the Contract include, but are not limited to, execution risks such as availability of skilled manpower and materials, changes in cost of manpower & materials and changes in political, economic and regulatory conditions.
