AmBank Group has granted RM300 million financing facilities to Uzma Berhad subsidiary, Uzma Engineering to support key contracts awarded by PETRONAS Carigali the subsidiary of Petroliam Nasional Berhad.
These include: provision of Hydraulic Workover and Plug & Abandonment Operations (Package A: 340K HWU Rig & Package B: 460K HWU Rig), which was awarded in May 2023; and contract extension for the Provision of Leasing, Operation, and Maintenance of Water Injection Facility for PCSB, which was awarded in October2022.
Uzma stands at the forefront as a key beneficiary of PETRONAS Activity Outlook 2024-26 report. With anticipated increased upstream activities by PETRONAS, the outlook remains positive for upstream service providers. Uzma has positioned itself as a competitive solutions provider, leveraging ongoing energy transition efforts to drive sustainable growth.
“This strategic collaboration is aimed at supporting essential operating expenditures for contracts that not only drive efficiency and innovation in our national oil and gas sector but also align with our shared vision for a more sustainable future. It is our belief that responsible financing is pivotal in fostering sustainable operations across industries, and this initiative exemplifies our commitment to being at the forefront of environmental stewardship while supporting economic growth.” said Jamie Ling, Group Chief Executive Officer, AmBank Group.
