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DNeX unit bags Pan Malaysia Umbrella Contract from Petronas Carigali

Cyberjaya, 5 March 2020 – Dagang NeXchange Berhad (“DNeX”), through its subsidiary company, DNEX Drilling Tech and Oilfield Services Sdn Bhd (formerly known as DNeX Oilfield Services Sdn Bhd), has been awarded a Pan Malaysia Umbrella Contract by PETRONAS Carigali Sdn Bhd (“PCSB”).

The contract involves providing equipment and services for directional drilling, measurement while drilling and logging while drilling.

It is valid for a duration of five years commencing from 16 January 2020 until 15 January 2025. The contract price will depend on the work orders issued by PCSB throughout the contract duration.

“We are grateful to be given the opportunity to be part of the Pan Malaysia Umbrella Contract. It is a testament to our efforts and expertise in providing services in this segment. The contract will enable us to create value and recognise further growth in the Energy division,” said Datuk Samsul Husin, Executive Deputy Chairman of DNeX.

He said the contract can contribute positively to DNeX’s earnings over the next few years.