SCOMI Group Bhd (7158), an oil services company, has won a RM15.3 million contract to provide drilling fluids in south Venezuela.
The six-month deal is its first contract in south Venezuela. Work started early this month.
The contract is with Petróleos de Venezuela, S.A. (PDVSA), the Venezuelan state-owned petroleum company. Scomi has been working closely with PDVSA for the last 13 years.
Under the contract, Scomi will provide its own formulated oil-based drilling fluids, Confi-Drill as well a specially-licensed water-based drilling fluid.
“This is a much anticipated breakthrough for us. Leveraging on our existing drilling waste management business, we have been promoting and supplying our drilling fluids in the country since 2008,” said Steve Bracker, president of Scomi Oiltools, a unit of Scomi.
Scomi Oiltools has been providing drilling waste management and machine shop services in Venezuela since 1997 from four locations.
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