CEO Morning Brief

Reservoir Link Wins Second Contract From Petronas in 2022

Publish date: Tue, 20 Sep 2022, 08:36 AM
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TheEdge CEO Morning Brief
Reservoir Link wins second contract from Petronas in 2022

KUALA LUMPUR (Sept 19): Reservoir Link Energy Bhd has received a letter of award from Petronas Carigali Sdn Bhd for its second contract from Petroliam Nasional Bhd (Petronas) this year.

In a statement on Monday (Sept 19), the energy-related services provider said the letter for its wholly-owned subsidiary Reservoir Link Sdn Bhd is for the provision of completion of new technology equipment and services, including Boron EaziGoFlo erosion-resistant sand screen and related services, to Petronas Carigali.

Reservoir Link said that under the 12-month contract, its subsidiary will provide sand screen technology and related services, including personnel, products and equipment, on a “call-out” basis.

It said the services include but are not limited to assembling and making up of sand screen accessories as well as conducting qualification lab testing, such as a screen erosion test, tensile strength test and mechanical properties test.

Reservoir Link executive director Thien Chiet Chai said the group has been progressing relatively well throughout 2022, with multiple contracts wins already under its belt, coupled with various new developments, including its transfer to the Main Market back in June.

“Following relentless efforts of our team in securing major projects to ensure that we deliver on our promise of continuous value creation, we will continue to embark on our journey to provide unparalleled customer service to consistently deliver quality work to our clients, and better solidify our presence in the industry,” said Thien.

Reservoir Link said the contract is expected to contribute positively towards its earnings for the financial year ending Dec 31, 2022, and throughout the contract period.

At the midday break on Monday, shares in the company had fallen 2.78% or one sen to 35 sen, with one million shares traded.

Source: TheEdge - 20 Sep 2022

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