KUALA LUMPUR (Jan 26): Coastal Contracts Bhd (KL:COASTAL) said a consortium led by its Mexican joint venture has secured an emergency job from Mexico’s national oil and gas firm Petróleos Mexicanos to immediately design and build a gas sweetening plant at the Ixachi Field to curb excessive gas flaring. In a bourse filing on Monday (Jan 26), the group said the consortium has already commenced full-scale work following the receipt of an “emergency work instruction” (EWI) from Pemex on Jan 23. Gas flaring at the Ixachi Field had escalated into an emergency situation, requiring immediate action and prompting the company to bypass the standard open tender process. The consortium comprises its 50%-owned JV Coastoil Dynamic SA de CV, Sistemas Integrales de Compresión SA de CV and Nuvoil SA de CV. Last month, the consortium clinched a RM4.64 billion gas processing contract from Pemex, sending its shares up nearly 20%.

Source: The Edge Markets January 26, 2026 10:18 UTC