KUALA LUMPUR (May 24): Uzma Bhd has accepted a contract from Petronas Carigali Sdn Bhd (PCSB) for the provision of gas lift valve and insert strings equipment, accessories and services.

However, it did not indicate the value of the contract.

Uzma said its wholly-owned subsidiary Uzma Engineering Sdn Bhd has received the letter of award dated March 14 from PCSB, which stated that the scope of work will be for PCSB’s wells in offshore East and West Malaysia.

The duration of the contract will be for three years ending on March 13, 2026, it said.

The group expects the contract to contribute positively towards its earnings and net assets per share for the financial year ending June 30, 2023 (FY2023) and onwards until the expiry of the contract.

Shares of Uzma were down half a sen or 0.79% at 63 sen on Wednesday (May 24), bringing it a market capitalisation of RM221.78 million.