Quick take: DNeX rises 7% on Petronas Carigali contract

KUALA LUMPUR: Shares in Dagang Nexchange Bhd (DNeX) were boosted in early trade Friday after announcing a five-year contract from Petronas Carigali Sdn Bhd.

The eServices provider rose 6.98%, or 1.5 sen to 23 sen with 5.39 million shares.

DNeX, through subsidiary DNEX Drilling Tech and Oilfield Services Sdn Bhd, has been awarded a Pan Malaysia umbrella contract by Petronas Carigali.

DNeX said the contract involved providing equipment and services for directional drilling, measurement while drilling and logging while drilling.

The contract, which was awarded to its 97.54%-owned unit DNEX Oilfield Services

Sdn Bhd (DOS), is on a call out basis beginning from Jan 16 this year until Jan 15, 2025.

“The contract price will depend on the work orders issued by Petronas Carigali throughout the contract duration,” it said in a statement.

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

Source: TheStar