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Scomi Confirms its Role in $500M to $1B Offshore Terengganu RSC

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Malaysia's Scomi Group confirmed Friday that it will continue to support a bid submission to Petronas for the Tembikai and Cenang Cluster Offshore Terengganu risk service contract (RSC) project.

Local media reported on Thursday that the RSC for the Tembikai marginal oil field had re-opened, after the bid by forerunner Scomi-Cue Resources was said to have faced some problems.

Cue Energy was among the marginal oil field contractors invited to bid for the contract, with Scomi brought onboard as the local partnering company.

Scomi said in a disclosure that it was not aware if Petronas had awarded the project. The company added that it will be making appropriate announcements to the local bourse’s operator in a timely manner.

Petronas is understood to have held technical reviews for Tembikai and Cenang with the shortlisted bidders that include the likes of international oil field services providers such as Baker Hughes, Halliburton and Petrofac, as well as independents such as AWE and Hydra Energy, CIMB revealed in a research report published in September of last year. Potential Malaysian companies in the bidding mix with the foreign players include SapuraKencana, Dialog, Alam Maritim, Daya Materials and Scomi.

The development at Tembikai and Cenang will primarily target gas production. Discovered in the 1980s, Tembikai is expected to be developed over a period of up to nine years, with the project costing $500 million to $1 billion.

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