Malaysia-based energy industry services firm Uzma has, via its Thai subsidiary MMSVS secured a contract with the oil company Valeura Energy Inc.
The three-year contract is for the provision of coil tubing equipment and services in the Gulf of Thailand.
The value of the contract is around 45 million Malaysian ringgit (currently around $10,1 million) in Malaysia over the firm period of the contract.
Valeura Energy will have the option to extend the contract for two more years.
Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.