PJBumi Bhd’s subsidiary, PJBumi Heavy Engineering & Services Sdn Bhd (PJBumiHES), has entered into a strategic partnership with Intlef Oil and Gas Group Co, Ltd (INTLEF), a China-based company.

The five-year collaboration aims to supply oilfield equipment and manufacture land rigs in Malaysia and Indonesia.

Under the agreement, PJBumiHES will handle business development, procurement, and maintenance, while INTLEF will provide technical support and expertise.

Future plans include setting up a maintenance hub, training center, and equipment showcase in Malaysia.

This partnership enhances both companies’ capabilities in the regional oil and gas industry.

The project will help localise production and boost services for onshore drilling operations and is set to improve both parties’ market position.

PJBumi rose by 1.92% to close at 79.5 sen today, resulting in a market capitalisation of RM65 million. — TMR