Barakah Offshore Petroleum Berhad disclosed Thursday that its 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 exclusively work together in Malaysia to provide deepwater installation of subsea umbilicals, risers and flowlines (SURF) and related services.
The MOC is a platform for exploring the key areas below:
The collaboration is a good fit for both PBJV and OI to widen the range of services and market reach for the Malaysia’s O&G industry. The parties focus to provide cost effective, fit-for-purpose solutions should bode well for the current market where clients are adapting to the low oil price environment
PBJV is a turnkey onshore and offshore O&G player with strong EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) capability. Its offshore O&G business includes transportation and installation, pipeline pre-commissioning, commissioning, and de-commissioning; and offshore platform major maintenance, and hook-up and commissioning. PBJV currently provides mainly shallow water (up to 656 feet or 200 meters water depth) installations of subsea infrastructures involving rigid pipelines and fixed platform structures.
OI is a subsea specialist, headquartered in Stavanger, Norway with offices in Aberdeen, Houston, Mexico City, Perth, Dubai and Rio de Janeiro. The company provides a full range of subsea services and holds strong EPCI (Engineering, Procurement, Construction, Installation) expertise in the SURF (Subsea structures, Umbilicals, Risers, Flowlines) segment. Established by experienced subsea professionals in 2011, OI focuses its attention in the deep water (656 feet or 200 meters to 9,842 feet or 3,000 meters depth) segment.
In the main SURF market, OI’s work scope includes the installation of subsea structures, flexibles, umbilicals, risers, rigid flowlines/pipeline laying, spools, survey and the full range of light and heavy construction work, decommissioning, diving, and Engineering, Design and Fabrication. The sub-area for SURF is Inspection, Repair, Maintenance and Survey.
The company has completed projects in Norway, UK, Gulf of Mexico, Brazil and U.S. for many oil majors such as Shell, ExxonMobil, Talisman, Statoil, Hess, Total, BP and Saipem. Currently, it has backlog orderbook of $350 million. While the specialist is positioned in the Top 10 subsea markets globally, OI is broadening its capabilities beyond North Sea basin into new region including Asia Pacific.
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