HOUSTON -- Mustang and Sime Darby’s Energy & Utilities Division have entered into a joint-venture to form Mustang Sime Darby. The new company will provide project management, design, and procurement support services for the Southeast Asian oil and gas industry from a regional hub in Kuala Lumpur. The venture also will expand Mustang’s global presence in Southeast Asia
PETALING JAYA: Oilcorp Bhd, via its 51%-owned indirect subsidiary Oilfab Sdn Bhd, has accepted an offer from Ramunia Holdings Bhd to acquire the Pulau Indah Integrated Fabrication Yard for RM83.8mil.Taken from The Star
In a note to Bursa Malaysia yesterday, Ramunia said the acquisition would give it access to a fabrication yard that was duly equipped with ready infrastructure that would allow the company to commence operations immediately if need be.
“Notwithstanding the disposal of the Teluk Ramunia fabrication yard which was completed in April 2010, Ramunia intends to continue its decade-long history of fabricating offshore structures for the oil and gas industry at a strategically located and proven location.
“The proposed acquisition will also provide us an immediate opportunity to participate in fabrication contracts as recently announced by the Malaysian Government as part of the Economic Transformation Programme for the oil and gas sector,” it said.
Ramunia said the acquisition would bode well for the company in its effort to maintain its position as a key player in this closed-market segment where current barrier to entry was high. “Moving forward, the proposed acquisition is expected to contribute positively to the future earnings of the company.”
KUALA LUMPUR: RNZ Integrated (M) Sdn Bhd has denied it was incapable of undertaking the detailed design work for the Maersk Oil Qatar (MOQ) project for Sime Darby Enginering Sdn Bhd (SDE).Taken from The Star
Managing director/chief executive officer Rozali Ahmad said RNZ had achieved ISO9001 certification for provision of engineering, design, procurement assistance and project management services for the development and modification of oil and gas production, installation and process facilities.
“RNZ has the reputation for successful execution of numerous projects in Malaysia, Sudan, India, Vietnam, Turkmenistan, Iran and Qatar,” he told Bernama yesterday.
Rozali said RNZ had been involved in the Sumandak Selatan integrated development project (offshore Sabah), Bunga Tulip A development project (Malaysia-Vietnam border), Tanjong Langsat Port oil development project (Johor), Muglad Basin development project and Bashayer 2 marine terminal (Sudan) and Monopod development project (India).
“Hence, the allegations were baseless. RNZ has the expertise, competency and financial capacity to undertake the MOQ project,” he said.
In recent press reports, Sime Darby Bhd had claimed the decision made by its former president/group chief executive officer Datuk Seri Ahmad Zubir Murshid, along with four other executives, to appoint RNZ was a mistake.
It claimed that RNZ did not have the necessary experience nor the expertise to design the plans for the MOQ project.
Rozali said RNZ's involvement with SDE started in 2006 when it was awarded the Sumandak Selatan development project Phase 2, which has similar facilities like those in the MOQ project. “RNZ completed the project ahead of the time stipulated,” he said.
On the MOQ project, Rozali said SDE had proposed RNZ as an alternative engineering consultant in 2007 to undertake the detail engineering works based on the successful execution of the Sumandak Selatan project and especially when Ranhill Worley Parson's proposal for a multi-location to undertake the work was rejected by MOQ and SDE. - Bernama
