KUALA LUMPUR (April 5): Reservoir Link Energy Bhd's unit Reservoir Link Sdn Bhd has received a letter of award from ExxonMobil Exploration and Production Malaysia Inc (EMEPMI) for the provision of annulus wash and cement placement equipment and services.

In a statement, Reservoir Link said the scope of work includes the provision of rental equipment or systems that meet EMEPMI's requirements and are capable of cleaning and washing the annulus behind single and multi-layer casings and provide assurance for cement placement behind the washed casings.

The company will also undertake the supply of qualified and experienced personnel for the job; and provision of technical consultancy for upfront engineering planning and solution to achieve EMEPMI's goals, which include software modelling.

The contract is for a five-year period from March 7, 2022 to March 6, 2027.

The value of the enabling contract with no guarantee of call-offs shall be based upon the agreed rates and work order, if any, issued by EMEPMI within the contract period, Reservoir Link said.

“I am glad we have yet again secured another contract for our oil and gas (O&G) segment. We appreciate EMEPMI’s trust in Reservoir Link’s capabilities to deliver," said Reservoir Link’s non-independent executive director Thien Chiet Chai.

"Looking ahead, we will continue in our active participation to tender for more projects in the O&G as well as solar renewable energy business segments to deliver the absolute best value to our shareholders," Thien said.

Shares of Reservoir Link settled up two sen or 4.71% at 44.5 sen, giving the offshore well services group a market capitalisation of RM129.25 million.

Source: TheEdge - 6 Apr 2022