KUALA LUMPUR (April 15): Uzma Bhd (KL:UZMA) said on Wednesday it has secured three contracts from PETRONAS Carigali Sdn Bhd for the provision of coiled tubing unit equipment and services.

The contracts were awarded to Uzma's unit, Setegap Ventures Petroleum, covering a comprehensive scope of well services, including intervention, completion, idle well reactivation and production enhancement activities in Sarawak and Sabah.

In a filing, Uzma said that the contracts carry a five-year tenure from Feb 13, 2026, to Feb 12, 2031. The value of the contracts, however, was not disclosed.

In a seperate statement, Uzma said it will deploy its coiled tubing unit (CTU) equipment and technical expertise to support well activities during the development and production phases, focusing on optimising output, enhancing asset performance and improving operational efficiency.

Group chief executive officer Datuk Kamarul Redzuan Muhamed said the contracts reflect the company’s operational readiness and execution capability.

“Our ability to deploy ready assets and experienced teams at scale has been a key differentiator in supporting operators like PETRONAS Carigali. These awards reflect our operational readiness and our strength in executing complex intervention and completion programmes safely and efficiently across multiple locations,” he said.

The statement also said that Uzma’s established asset base and experienced technical workforce enables rapid mobilisation and consistent service delivery, particularly in high-demand and logistically challenging environments.

The group said the long-term contracts provide strong earnings visibility and reinforce its role as a reliable partner in Malaysia’s energy ecosystem.

Shares in Uzma settled one sen or 2.4% lower at 40 sen on Wednesday, giving the group a market capiltalisation of RM238.1 million.