Uzma Engineering had been awarded a contract by Petronas Carigali for the Provision of Light Weight Hydraulic Workover Unit for PCSB in August but was only approved for an announcement in September.
According to the company, the RM17 million job will require Uzma to integrate HWU services for Petronas Carigali’s well abandonment campaign in offshore East Malaysia. The campaign will be for two wells with work expected to commence in September 2022 and be completed in October 2022.
Uzma said the contract will not have any effect on the share capital and shareholding structure of the Company as it does not involve the issuance of ordinary shares in the Company. However, it is expected to contribute towards the earnings and net assets per share of the Company for the financial year ending 30 June 2023 until the expiry of the Contract.
