KUCHING: Petra Energy Bhd has secured offshore contracts in Sarawak worth a total of RM298 million.
Its subsidiary, Petra Resources Sdn Bhd (PRSB), received and accepted four work orders from Petronas Carigali Sdn Bhd (PCSB) for the provision of hook-up & commissioning (HUC) services for the Bintulu integrated facilities (BIF) rejuvenation project Phase 2. The work orders were dated December 1 2025, January 22, 2026 and January 30, 2026 (two work orders).
“The details of the work orders include the provision for procurement (bulk items), engineering activities and the construction & commissioning for the BIF rejuvenation project Phase 2 .
“The work orders will not affect Petra Energy group’s share capital or the substantial shareholders’ shareholdings.
The work orders are expected to contribute positively to the group’s earnings and net assets per share for the financial year ending 31 December 2026 and thereafter until the expiry of the contract,” Petra said in a filing with Bursa Malaysia,
Petra said the risk factors affecting the work orders include operational and execution risks, which PRSB will take appropriate measures to eliminate or minimise them.
On January 3, 2025, Petra announced that PRSB had received letters of award from SapuraOMV Upstream (Sarawak) Inc, JX Nippon Oil & Gas Exploration (Malaysia) Ltd and ROC Oil (Sarawak) Sdn Bhd related to the contracts for the provision of Pan-Malaysia Offshore maintenance, construction and modification (MCM) and hook-up & commissioning services for a period of five years with an extension option of three years plus two years.
The effective dates of the contract from SapuraOMV was January 1, 2025, JX Nippon (October 24, 2024) and ROC Oil (October 28, 2024).
Meanwhile, Uzma Bhd said its subsidiary firm Setegap Ventures Petroleum Sdn Bhd had received a letter of award from EnQuest Petroleum Production Malaysia Ltd for the provision of integrated well intervention and project management team for the 2026-2027 EnQuest well intervention programme (Package A8).
The award letter was dated February 19, 2026 but the company only received the approval from EnQuest to announce it on April 3, Uzma told he local bourse.
The contract is for a two-year period, commencing February 19, 2026 until February 18, 2028.
“The scope of works comprises of provision, supply and maintenance of necessary tools, equipment, accessories and spare parts for well intervention services. The value of the contract is approximately RM60 million over the contract period,” added Uzma.
Petra and Uzma are joint venture partners in a Sarawak on-shore oil project. In June 2021, their respectively wholly-owned subsidiaries — Petra Energy Development Sdn Bhd and Uzma Engineering Sdn Bhd — secured a contract from a contract from Petroleum Sarawak Bhd (Petros) for the exploration, development and production of petroleum in Block SK433, onshore Sarawak.
Their first drilling activity at Block SK433 began In October 2023, Block SK433 cover an area of approximately 3,100 sq km and is located in the Miri-Marudi area that includes the Adong Kecil west discovery. The block is an extension of the Baram Delta, which has been producing oil for decades.
