Petronas umbrella contract award goes to DNeX

  • Business & Finance

Malaysia-based investment holding company Degang NeXchange Berhad (DNeX) has received a Pan Malaysia umbrella contract award from Petronas Carigali for the provision of drilling services.

DNeX said on Thursday that it had won the contract on January 16 via its 97.54% owned subsidiary, DNEX Oilfield Services (DOS) – currently known as DNEX Drilling Tech and Oilfield Services.

Under the terms of the contract, DOS will undertake directional drilling, measurement while drilling, logging while drilling. The company will also provide equipment and services.

The contract is on a call-out basis for a duration of five years. The value of the deal will depend on the work order request by Petronas Carigali from time to time during the contract. The detailed scope of work shall be as stipulated in the orders.

DOS will provide the necessary equipment, transport, labor, and any other items necessary to achieve the successful completion of the works as specified or to be inferred from the contract.

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