PETALING JAYA: Reservoir Link Energy Bhd has received a three-year contract from Hibiscus Oil & Gas Malaysia Ltd for the provision of slickline perforation and specialised services.

       The contract was awarded to Reservoir Link via its wholly owned subsidiary, Reservoir Link Sdn Bhd, effective July 3, 2023. The contract value was not disclosed.

       Reservoir Link executive director Thien Chiet Chai said: “We are delighted to see ourselves securing more contracts in 2023 for the oil and gas as well as the renewable energy segment.

       “This is undoubtedly a reaffirmation of the quality and reliability of the group’s services in which it is widely known for,” he said in a statement.

       He expects the oil and gas sector to continue growing alongside its renewable energy business.

       Thien said the group will continue to improve on existing technologies and enhance its business offerings to ensure it secures more contracts in 2023.

       In a filing with Bursa Malaysia, the energy-related services provider said the contract will not have any effect on its share capital and shareholding structure, and there will not be any immediate effect on net assets per share and gearing.

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       The contract is expected to contribute positively to the earnings of the company including its subsidiaries for the financial year ending June 30, 2024 and throughout the contract period.