Tanjung Offshore exploring opportunities to venture into brownfield development

KUALA LUMPUR: Tanjung Offshore Bhd (TOB), an oil and gas services (O&G) provider, is exploring opportunities to venture into brownfield development.

Its executive deputy chairman, Tan Sri Tan Kean Soon, said TOB was in discussions with two international oil operators to form a consortium or partnership to go into brownfield development.

“We will try to focus on Sabah, Sarawak and Terengganu as most of the fields are brownfields,” he told reporters after the company’s annual general meeting here yesterday. Tan said the company would also look into the possibility of venturing into neighbouring countries such as Indonesia, Vietnam and Myanmar and SouthEast Asia at large.

He said the company would strengthen maintenance services, venture into offshore support vessels (OSV) niche market and grow unit, Gas Generators (M) Sdn Bhd (Gastec).

“Gastec provides nitrogen packages to the industry and has room to grow.

“The company is already in few South-East Asian and West Asian countries, and has plenty of opportunities to grow,” he said.

On OSV, Tan said, TOB would likely go into the market at the right time and when the charter rates were favourable. He said there has been a slowdown in the O&G sector, but amid challenging times, O&G players may still need to spend on services and maintenance.

Among the jobs the company recently received were topside maintenance and maintenance of safety equipment on platforms, he said. — Bernama