Eversendai in vessel talks with Europe, Mideast firms
Firm looking to construct vessels for O&G players in Europe, Middle East
EVERSENDAI Corp Bhd’s wholly-owned unit, Eversendai Offshore RMC FZE, aims to secure a contract to build up to two vessels for a major European oil and gas (O&G) firm worth about US$200 million (RM776 million).
It is believed that Eversendai Offshore is also working towards securing contracts to build vessels for O&G companies in the Middle East.
One of the parties that Eversendai Offshore is in talks with in the Middle East is Saudi Aramco, Saudi Arabia’s national petroleum and natural gas company.
Last November, Eversendai Offshore secured a major offshore fabrication project in United Arab Emirates (UAE) from Aramco.
Eversendai Offshore is the first Malaysian company to have won a project from Aramco, which is expected to invest more than US$300 billion over the next 10 years.
The company recently received Aramco’s local manufacturer status (9com) certification, which pre-qualifies its Ras Al Khaimah fabrication yard in RAK Maritime City to execute Aramco projects.
Eversendai Offshore chief executive officer Narish Nathan confirmed that the company was talking to O&G players in Europe and the Middle East.
“We are discussing how many vessels they require. The contract value will depend on the number of vessels they want and the specification. We have space at our Ras Al Khaimah fabrication yard to build more vessels,” he said after launching sea trials for Aryan at the Ras Al Khaimah fabrication yard in the UAE last month.
Aryan is the company’s first fully-constructed self-propelled lift boat.
The sea trials for Aryan, built for Singapore-based O&G firm Vahana Offshore (S) Pte Ltd at a cost of US$110 million, began on March 21.
Aryan will be delivered to Vahana Offshore at the end of this month.
Eversendai Offshore is also building a second vessel, Arjun, for Vahana Offshore, which will be delivered next year.
The construction of Arjun is about 30 per cent completed.
Work is temporarily on hold as Eversendai is waiting for the bank loan to finance Arjun’s construction, pending a charter contract for Aryan.
This is based on the conditional financing agreement between Eversendai and its bank.
Vahana Offshore is an O&G company founded by Tan Sri AK Nathan, who is also Eversendai executive chairman and group managing director.
We are discussing how many vessels they require. The contract value will depend on the number of vessels they want and the specification. NARISH NATHAN
Offshore RMC FZE chief executive officer