Latest news with #ThienChietChai
The Star
30-06-2025
- Business
- The Star
Reservoir Link unit secures work order from PETRONAS Carigali
KUALA LUMPUR: Reservoir Link Energy Bhd 's wholly-owned subsidiary Reservoir Link Sdn Bhd has received a work order for the provision of annulus wash and cement assurance for PETRONAS Carigali Sdn Bhd. In a stock exchange filing, Reservoir Link said the work order commenced on May 26, 2025, for a period of four years until May 25, 2029. In a separate statement, Reservoir Link said the contract is expected to generate up to RM25mill annually, which collectively amounts to an estimated RM100million over four years. "Gazing forward, we believe this sustained success will place us in an optimum position to secure more contracts, leveraging our established expertise and the reliability that we have become synonymous for. "This latest achievement serves as a solid foundation for continued growth and expanded partnerships, and we are immensely excited to see what opportunities this momentum will bring, going forward,' said executive deputy chairman Thien Chiet Chai. Reservoir Link's shares were last traded before the lunch break at 21 sen a share, up 0.5 sen from the previous session's closing price, after 9.36 million shares changed hands.
New Straits Times
30-06-2025
- Business
- New Straits Times
Reservoir Link bags RM100mil Petronas Carigali job over four years
KUALA LUMPUR: Reservoir Link Energy Bhd's subsidiary Reservoir Link Sdn Bhd has received a work order award from Petronas Carigali Sdn Bhd for the provision of annulus wash and cement assurance. In line with the company's historical performance, the contract is expected to generate up to RM25 million annually. The contract will be valid for four years until 2029, which collectively amounts to an estimated RM100 million in contract value. Under the scope of the contract, Reservoir Link will be providing a mechanism to create circulation tunnel or window. It will also provide annulus wash mechanism to remove defective cement in the single or dual annulus through the created tunnel or window. The company will provide cement placement mechanism across the single or dual annulus through the created tunnel or window. Reservoir Link executive deputy chairman Thien Chiet Chai said the second contract win from Petronas Carigali for 2025 solidifies its strong market presence within the oil and gas industry. "We believe this sustained success will place us in an optimum position to secure more contracts, leveraging our established expertise and the reliability that we have become synonymous for. "This latest achievement serves as a solid foundation for continued growth and expanded partnerships, and we are immensely excited to see what opportunities this momentum will bring, going forward," he added.
The Star
24-04-2025
- Business
- The Star
Reservoir Link secures work order award from PETRONAS Carigali
Reservoir Link executive deputy chairman Thien Chiet Chai PETALING JAYA: Reservoir Link Energy Bhd has received a work order award from PETRONAS Carigali Sdn Bhd for the provision of light weight well testing services. In a statement, the company said it anticipates the contract may generate up to RM40mil in value, in line with past historical data. 'The contract value for the work order will be based on the number of wells executed. Under the scope of the contract, Reservoir Link's other responsibilities include the mobilisation of highly skilled personnel, deploying advanced well testing technology, ensuring well-maintained equipment and coordinating all necessary logistical arrangements to facilitate seamless project execution while maintaining the highest safety and efficiency standards. Reservoir Link executive deputy chairman Thien Chiet Chai said: 'Given our long standing relationship with our existing clients and strong industry reputation, we foresee more activities to come in the coming months as the demand for energy related services continues to grow. 'We look forward to consciously play an active role and support Malaysia's upstream energy sector while maintaining the highest operational standards to ensure that we deliver on our promise to be a reliable service partner, reflecting our continuous efforts in delivering reliable solutions and contributing to the overall efficiency and sustainability of the industry.'
