Uzma Bhd has secured three contracts from PETRONAS Carigali Sdn Bhd for the provision of coiled tubing unit (CTU) equipment and services, the company said in a Bursa Malaysia filing on Wednesday.
The contracts were awarded to its subsidiary, Setegap Ventures Petroleum Sdn Bhd, and cover a broad range of well services, including intervention, completion, idle well reactivation, and production enhancement activities across Sarawak and Sabah.
Uzma said the contracts have a five-year tenure, running from Feb 13, 2026, to Feb 12, 2031, although the contract value was not disclosed.
In a separate statement, the group said it will deploy its CTU equipment and technical expertise to support well operations during both development and production phases, with a focus on optimising output, improving asset performance, and enhancing operational efficiency.
Group CEO Datuk Kamarul Redzuan Muhamed said the contract wins highlight Uzma’s operational readiness and execution capabilities, noting that the group’s ability to mobilise ready assets and experienced teams at scale has been a key differentiator.
Uzma added that its established asset base and skilled workforce enable fast deployment and consistent service delivery, particularly in high-demand and logistically challenging environments.
The long-term nature of the contracts is expected to provide strong earnings visibility and further strengthen Uzma’s position as a reliable partner in Malaysia’s energy sector.
Shares in Uzma closed one sen or 2.4% lower at 40 sen, valuing the group at RM238.1 million.
