KUALA LUMPUR: UZMA BHD []'s unit Uzma Engineering Sdn Bhd has been appointed as a contractor by a national oil company (NOC) to provide subsurface studies for routine and enhance oil recovery (EOR) services.
In a filing to Bursa Malaysia on Friday, Oct 22, Uzma said the contract was for an initial period of three years from Oct 14, 2010.
The company however said that the subsurface contract did not constitute or imply a commitment by the NOC to award any specific volume of works to UESB.
'The commitment to award any specific volume of works shall be made through issuance of work orders,' it said.
Uzma said the contract would not have any material effect on its earnings for the financial year ending Dec 31, 2010.
'Upon issuance of specific work order, the company expects the subsurface contract to contribute positively to its future earnings,' it said.
In a filing to Bursa Malaysia on Friday, Oct 22, Uzma said the contract was for an initial period of three years from Oct 14, 2010.
The company however said that the subsurface contract did not constitute or imply a commitment by the NOC to award any specific volume of works to UESB.
'The commitment to award any specific volume of works shall be made through issuance of work orders,' it said.
Uzma said the contract would not have any material effect on its earnings for the financial year ending Dec 31, 2010.
'Upon issuance of specific work order, the company expects the subsurface contract to contribute positively to its future earnings,' it said.
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