Uzma Berhad and Petra Energy Berhad to form joint venture company called Khausar Energy Sdn Bhd

Uzma Berhad and Petra Energy Berhad are coming together to form a joint venture company called Khausar Energy Sdn Bhd.

Both of the two oil and gas services companies said in separate announcements to the stock exchange that the joint venture was formed to undertake business development activities focusing on building a portfolio of production and development assets to operate under the various contractual regime.

The companies entered into the agreement via their units, Uzma Engineering Sdn Bhd and Petra Energy Development Sdn Bhd, which will have equal 50% stakes in Khausar.

(EOG)

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