Kuala Lumpur, 26 February 2018 – Dagang NeXchange Berhad ("DNeX"), through subsidiary company DNeX Oilfield Services Sdn Bhd, has signed a contract agreement to provide directional drilling equipment to Baker Hughes (M) Sdn Bhd ("BHGE").

Under the agreement, DNeX will serve as an equipment support provider to BHGE for its directional drilling operations in Asia Pacific and Middle East countries.

Estimated at about RM 9 million per year, the contract will begin on 1 March 2018 for two years and with an extension option of up to two years.

The contract will include the provision of Directional Drilling / Measurement While Drilling / Logging While Drilling ("DD/MWD/LWD") equipment.

"The contract is an extension of our partnership with BHGE as a modest yet strategic diversification into another geographical market as we establish a foothold outside of Malaysia as a support service provider. We are certainly pleased to be working in another role with BHGE, which is a multinational company that is committed to bring world class technology and best practices working with local companies to serve industry needs," said Encik Zainal Abidin Jalil, Group Managing Director of DNeX.

"When we entered the market in 2015, we were the first local, self operated company in the provision of DD/MWD/LWD services, and we still are. We have increasingly built our capabilities and competencies in these services, and this contract can help strengthen our position as a regional Maintenance, Repair and Overhaul ("MRO") service provider as well," he said.

He added that this contract can also increase DNeX's reputation as a trusted support service provider to international companies in its efforts to look for opportunities in the local as well as regional market.

DNeX can offer fit-for-purpose directional drilling services with its own technical edge in directional drilling and well intervention services. Its operations sites include Kemaman Supply Base, and Asian Supply Base in Labuan.