KUALA LUMPUR (Feb 24): Oil and gas service and equipment provider Uzma Bhd has bagged a RM30 million contract from Petronas Carigali Sdn Bhd to provide electrical submersible pump (ESP) equipment and services for the latter's wells in Malaysia.
In a filing with Bursa Malaysia on Friday (Feb 24), Uzma said its wholly-owned subsidiary Uzma Engineering Sdn Bhd had on Jan 27 accepted an award of contract from Petronas Carigali for the job.
The duration of the contract will be for three years until Jan 24, 2026.
"The contract is expected to contribute positively towards the group's earnings and net assets per share for the financial year ending June 30, 2023 and onwards until the expiry of the contract," it said.
Uzma shares closed up 5 sen or 7.35% at 73 sen on Friday, giving it a market capitalisation of RM255.06 million.