News

Petra Energy accepts LOA from Petronas for Banang Field production



KUALA LUMPUR, June 16 -- Petra Energy Bhd’s (PEB) wholly-owned subsidiary Petra Energy Development Sdn Bhd (PEDSB) had accepted a Letter of Award from Petroliam Nasional Bhd (Petronas) on June 4, 2020 for the continuation of Banang Field production.

Under the Technical Service Agreement (contract), PEDSB on behalf of the national oil company will provide services to operate and maintain the Banang Field from June 29, 2020 for a period of two years until June 28, 2022.

The group said PEDSB is in an ideal position to undertake the operation and maintenance of the Banang Field after having an exposure to the upstream field development and production via a 30 per cent joint venture in the Kapal Banang Meranti Small Fields Risk Service Contract.

“The opportunity to operate and maintain Banang Field is a natural progression and an extension of its services within the oil and gas industry.

“In addition, the group has the right capabilities and asset such as the Mobile Offshore Production Unit (MOPU) to undertake the scope of works under the terms of the contract,” it said in a filing to Bursa Malaysia today.

It added the contract will not have any effect on the share capital and substantial shareholders’ shareholdings of the group and is expected to contribute positively to the earnings and net assets per share of PEB for the duration of the contract.

-- BERNAMA  

 





    Other News

Serba Dinamik to reduce oil revenue dependency, strengthen tech segment

KUALA LUMPUR, Sept 25 -- Serba Dinamik Holdings Bhd aims to reduce the company's dependency on oil and gas (O&G) revenue by an estimated 40-45 per cent by 2022.


Smallholders should join KPSM to improve productivity, income -- MPOB

KOTA KINABALU, Sept 22 -- The Malaysian Palm Oil Board (MPOB) has asked oil palm smallholders to register as members of Koperasi Penanam Sawit Mampan (KPSM) to benefit from its activities to boost their palm productivity and income.


TNB Bukit Selambau solar project commissioned ahead of schedule

KUALA LUMPUR, Sept 22 -- Tenaga Nasional Bhd (TNB) has successfully commenced operations of its second Large Scale Solar (LSS) project in Bukit Selambau, Kedah (LSS Bukit Selambau) on Sept 8, or 114 days ahead of schedule.


    Main Sponsor


    Quotes



© 2020 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution

Contact us :
General [ +603-2693 9933, helpdesk@bernama.com ]
Product/Service Enquiries [ +603-2050 4466, portal@bernama.com ]