Petra Energy to acquire more marine fleet

BINTULU: Sarawak-based Petra Energy Berhad is looking at buying more work barges, work boats and supply vessels to support its increasing role in the offshore brown field work, particularly in the oil and gas hubs in Sabah and Sarawak.

Executive director and chief operating officer Ahmadi Yusoff said the proposed aquisitions will be premised on a right mix of vessel portfolio and growing opportunities in offshore oil and gas operations. The company's current fleet comprises three workbarges and two work boats.

He told a media briefing in conjunction with the Kumang cluster onshore tie-in facilities handing over ceremony here last night that the project, involving procurement, construction and commissioning of the tie-in at the Malaysia LNG Sdn. Bhd. SC-2 and Bintulu integrated facilities onshore upgrading and modifications, was completed ahead of schedule on August 30.

In recognition of its health safety and environment standards, Petra Energy received accolades from Petronas Carigali and MLNG for 835,000 safe manhours achievement for the project earlier this month.

Ahmadi, who has been instrumental in the turnabout operations at the Kumang project office, said that currently the group's major contracts include the hook-up construction and commissioning (HUCC) contract for Petronas Carigali awarded last December.

Another is the Sabah/Sarawak HUCC and major maintenance contract awarded in late 2008.

According to Ahmadi, the company's immediate priority was to focus on onshore brown field opportunities in Sabah and Sarawak like in Kimanis (Sabah), Labuan and Bintulu as well as developing hubs in Peninsular Malaysia as part of its expansion plans.

These include opportunities in areas of topside major maintenance and construction; hook-up and commissioning in the immediate and short-term besides marginal and small field redevelopment in the medium to long term.

"We also see strong growth potential in fabrications work for the oil and gas industry," he said, adding that Petra Energy has established a collaboration with Labuan Shipyard and Engineering to undertake minor and major fabrication works and had acquired a facility in Tanjung Kidurong here.

The two new yards will complement its current fabrication facilities in Shah Alam and Labuan.

On human capital needs, Ahmadi said the company, currently supported by a professional, technical and contract workforce of about 2,600, will continue to grow its human capital portfolio in the core business areas.

At present it is working closely with the Dayak Chamber of Commerce and Industry of Sarawak to assist in youth development, especially in skills training programme. At the same time Petra Energy plans to reinforce its partnerships and collaboration with all oil and gas majors in the industry. -- Bernama

Source: MOLE