KUALA LUMPUR: Oil and gas service provider Uzma Bhd yesterday said it will undertake the remaining fabrication, hook-up and commissioning works of the KNPG-B Topside PH II for the non-associated gas (NAG) development project located offshore Sabah, until its targeted completion in July this year.

This follows a novated contract signed between its wholly-owned subsidiary Uzma Engineering Sdn Bhd with THHE Fabricators Sdn Bhd and Petronas Carigali Sdn Bhd on Oct 24 last year.

In February 2014, TH Heavy Engineering Bhd announced that its subsidiary THHE Fabricators had received a letter of award from Petronas Carigali to undertake procurement, construction and commissioning of the KNPG-B topside. Work on the contract was scheduled for completion in 18 months.

However, in April last year, TH Heavy Engineering said that THHE Fabricators had received a letter from Petronas Carigali stating that due to performance-related issues pertaining to the execution of the Kinabalu project, THHE Fabricators will be excluded from participating in future Petronas Carigali’s tender for a duration of two years.

Uzma shares closed down nine sen or 5.11% at RM1.67 yesterday, bringing a market capitalisation of RM506.23 million.