INTEGRATED oil and gas brownfield services provider Petra Energy Bhd (PEB) (5133) has signed an initial pact to partner Singapore-based Bourbon Offshore Asia Pte Ltd to bid for new contracts.
Under their memorandum of understanding, PEB will do topside major maintenance hook-up commissioning and construction services of offshore oil and gas installations and marine services. Bourbon will provide vessels, associated equipment and engineering services.
PEB executive director and chief executive officer Kamarul Baharin Albakri said this paves the way for a formal agreement between them and the long-term cooperation including the possibility of a joint- venture firm.
"We will be looking at new business opportunities in providing more strategic work in topside major maintenance and subsea.
"This initiative is part of the company's long-term strategy and its way forward in leveraging on more new business opportunities in the current uptrend of the oil and gas industry," Kamarul said in a statement yesterday.
With added marine support capabilities, PEB would be able to provide a complete ambit of comprehensive solutions in the brownfield sector of the upstream oil and gas industry.
This would also give PEB an edge over the current level of available services in topside major maintenance and subsea work.
Bourbon, among others, is an international provider or marine, including subsea services, to the offshore oil and gas industry, including the provision of vessels, associated equipment and engineering services.
by Business Times
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