Barakah Offshore’s unit signs MoC
KUCHING: Barakah Offshore Petroleum Bhd’s ( Barakah Offshore) wholly-owned subsidiary, PBJV Group Sdn Bhd (PBJV), has recently signed a Memorandum of Collaboration ( MoC) with a Norwegian subsea service provider, Ocean Installer Ltd (OI) to work together in Malaysia to provide deepwater installation of subsea umbilicals, risers and flowlines (SURF) and related services.
The company in a press statement yesterday said the collaboration was a good fit for both PBJV and OI to widen the range of services and market reach for Malaysia’s oil and gas (O&G) industry.
Commenting on the collaboration, BarakahOffshore’sdeputyexecutive chairman Nik Hamdan Daud said, “This collaboration will allow us to serve the full spectrum of subsea installation market for Malaysia’s O&G industry and a step up for Barakah to be involved in deepwater segment.
“Together (with OI), we hope to provide good value for money solutions to our existing or potential clients.
“We are optimistic that the cooperation will support Barakah’s ambition to move up the value chain, “Nik Hamdan said.
Meanwhile, Barakah Offshore noted under the collaboration, the parties focussed to provide cost
This collaboration will allow us to serve the full spectrum of subsea installation market for Malaysia’s O&G industry and a step up for Barakah to be involved in deepwater segment. Nik Hamdan Daud, Barakah Offshore’s deputy executive chairman
effective, fit-for-purpose solutions should bode well for the current market where clients were adapting to the low oil price environment.
The company explained that the MoC was a platform for exploring key areas such as sharing each party’s expertise, resources and develop business for the offshore O&G market jointly in Malaysia and identifying prospects for suitable oil and gas-related projects to be pursued and tendered jointly and on an exclusive basis.
Additionally, Barakah Offshore further explained that PBJV is a turnkey onshore and offshore O&G player with strong engineering, procurement, construction, installation, and commissioning (EPCIC) capability.
Barakah Offshore noted that PBJV’s offshore O& G business inc lude s transpor t at ion and installation, pipeline precommissioning, commissioning, and de-commissioning; and offshore platform major maintenance, and hook-up and commissioning.
The company disclosed that PBJV currently provides mainly shallow water (up to a 200 metre water depth) installations of subsea infrastructures involving rigid pipelines and fixed platform structures.
Onanothernote,BarakahOffshore said OI is a subsea specialist, headquartered in Stavanger, Norway with offices in Aberdeen, Houston, Mexico City, Perth, Dubai and Rio de Janeiro.
The company observed that OI provides a full range of subsea services and holds strong engineering, procurement, construction, installation (EPCI) expertise in the SURF segment.
Barakah Offshore noted OI which was established by experienced subsea professionals in 2011 focuses its attention in the deep water (200 metre to 3000 metre depth) segment.
InthemainSURFmarket,Barakah Offshore noted OI’s work scope includes the installation of subsea structures, flexibles, umbilicals, risers, rigid flowlines or pipeline laying, spools, survey and the full rangeoflightandheavyconstruction work, decommissioning, diving, and engineering, design and fabrication.
Barakah Offshore pointed out OI has completed projects in Norway, UK, Gulf of Mexico, Brazil and US for many oil majors such as Shell, ExxonMobil, Talisman, Statoil, Hess, Total, BP and Saipem.
The company noted that OI currently has backlog orderbook of US$350 million.
It observed that OI is broadening its capabilities beyond the North Sea basin into new regions including Asia Pacific while the specialist is positioned in the top 10 of subsea markets globally.