PBJV Group has signed a memorandum of collaboration (MoC) with Norway’s Ocean Installer (OI) to provide deepwater installation of subsea umbilicals, risers and flowlines (SURF) and related services in Malaysia.
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Under the MoC, PBJV, the wholly owned subsidiary of Barakah Offshore Petroleum and the Norwegian subsea service provider will share their resources and develop business for the offshore oil and gas (O&G) market jointly in the country.
The parties will also identify prospects for suitable oil and gas-related projects that would be pursued on an exclusive basis.
Barakah said that the partnership will enable the companies to expand their services and market reach for the Malaysia’s O&G industry.
Barakah Offshore Petroleum Berhad deputy executive chairman Encik 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.
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By GlobalData"Together, we hope to provide good value for money solutions to our existing/potential clients. We are optimistic that the co-operation will support Barakah’s ambition to move up the value chain."
PBJV’s offshore O&G business includes transportation and installation, pipeline pre-commissioning, commissioning, and de-commissioning in addition to offshore platform major maintenance, and hook-up and commissioning.
It has already carried out projects in Norway, UK, Gulf of Mexico, Brazil and US, and currently has a backlog order book of $350m.
Image: Ocean Installer’s Normand Vision vessel. Photo: courtesy of Ocean Installer.
