EV Secures Long Term Contract with PETRONAS
03 February 2021
PETRONAS is a global energy and solutions partner and ranked amongst the largest corporations in Fortune Global 500®. This contract win further demonstrates EV’s position as global market leader in Downhole Visual Analytics. EV's cutting edge camera systems are recognised as the benchmark for downhole video technology.
Daya Maxflo Sdn Bhd, a subsidiary of Daya Materials Berhad, through its collaboration with its principal, EV Offshore Limited, will provide Downhole Tools & Services in Malaysia after securing a five-year contract with PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), a subsidiary of PETRONAS, which will run until 22nd October 2025.
The scope of works covers the provision of downhole imaging services deployed on memory, real-time or drill pipe conveyance systems in both cased or open hole wells for PETRONAS Carigali assets in Malaysia. The contract is on a “call-out” basis with work orders issued at the discretion of PETRONAS Carigali based on the schedule of rates set in the contract.
“We are delighted to extend our long-term relationship with PETRONAS further over the next 5 years. It is positive news for EV and is recognition of the hard work and commitment from all our personnel who continue to maintain safe and efficient operations. Malaysia is a key market for us and we see this as a strategic win as we continue to expand our core business and services internationally, despite the industry decline.”
Fraser Louden, EV CEO
“PETRONAS Carigali’s long term commitment to our services demonstrates our ability to deliver efficient operations through our market leading services and we are delighted to continue this relationship.”
Stephen Burger, EV Region Manager for South East Asia
This contract has also reinforced Daya Maxflo as a leader in specialized oilfield services since 2005 to provide downhole video camera services to South East Asia oil and gas companies together with EV.
“This is a strategic win for Daya Maxflo to grow its core business in the regional market and the contract is expected to contribute positively towards Daya Maxflo and Daya Materials Berhad’s earnings during the contract period.”
Arthur Sam, Daya Maxflo CEO