Afer it last week informed the market on winning a contract with Schlumberger, Malaysian company Daya Materials Berhad on Tuesday shared more details.
The company last week said it had won a deal to provide well services to Schlumberger in Saudi Arabia over a three-year period.
In an update on Tuesday, Daya revealed the financial details. The contract is worth RM37 million ( $9.2 million ), and the company said there was an option to extend it by mutual agreement.
“The provision of the services of the contract is expected to contribute positively to the earnings and net assets of Daya Group during the contract period,” Daya said.
Daya Maxflo, the company’s subsidiary, will be responsible for the job. The subsidiary specializes in oilfield services that include drilling, well intervention, enhanced oil recovery (EOR) and production enhancement.