KUALA LUMPUR: Oil and gas services specialist Deleum Bhd has clinched a contract from an oil major for the provision of Slickline equipment and services in Malaysia.
The company said its subsidiary Deleum Oilfield Services Sdn Bhd was awarded the contract for a period of four years, commencing mid-March 2023.
Deleum group chief executive officer Rao Abdullah said it was off to a good start with the contract from an oil major, in line with the company's objective to secure more high value projects this year.
Rao said the winning of the highly competitive tender as an incumbent demonstrated the company's strong track record and ability to provide high-quality oilfield services in the production and drilling sector in the O&G industry.
"This allows Deleum to maintain its leadership position as an oil and gas services provider in Malaysia. We are constantly looking for ways to strengthen our business and plans to expand our presence locally as well as internationally," he added.
The new win will strengthen the company's orderbook, while also improving the financial contributions of its oilfield services (OS) segment.
The OS segment returned to profitability in the financial year ended 2022, earning a marginal pre-tax profit of RM0.3 million on revenue of RM119.3 million.