Uzma unit secures integrated production contract from Shell
KUALA LUMPUR (May 3): Uzma Bhd has secured a contract from Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Company Ltd (SSPC) to provide integrated production and integrity chemical and associated services.
Uzma said its subsidiary Malaysian Energy Chemical & Services Sdn Bhd had accepted the contract from both SSB and SSPC, but did not disclose its value.
It will be in force for five years from April 15, 2024, until April 14, 2029.
This contract marks Uzma’s fifth win since the start of 2024, including the two-year contract extension it obtained from Medco Energi Thailand (Bualuang) Ltd for the provision of hydraulic workover unit (HWU) services in March.
Before that, the group secured a five-year supply contract for the PM3 CAA production sharing contract, where Hibiscus Petroleum Bhd holds a 35% interest; a term contract from Petronas Carigali Sdn Bhd for the provision of a portable water injection module for the Sepat platform in Terengganu; and a contract to lease a water injection facility to Hibiscus’ wholly-owned subsidiary, SEA Hibiscus Sdn Bhd.
At market close on Friday, Uzma’s shares closed two sen or 1.67% lower at RM1.18, resulting in a market capitalisation of RM456.93 million.