Petra Perdana set to spread wings to Oman

Sep 05, 2001 02:00 AM

Petra Perdana, which has a strong foothold in South-East Asia as a provider of integrated engineering and maintenance services to the oil, gas and petrochemical industry, is set to spread its wings to Oman by next year. Describing the potential for the company to provide its services for the Omanese petroleum industry, Petra executive chairman and CEO Tengku Datuk Ibrahim Petra Teng-ku Indera Petra said that one oil firm in Oman could produce 900,000 bpd of oil, compared with Malaysia, which could only produce 600,000 bpd.
"At the moment the Omanese are depending on the people from Dubai. Sometimes they send back the equipment to the original manufacturers in Britain and Aberdeen. So the market is pretty big," he said.

Ibrahim said he hoped that Petra would be able to rake in its share not only in Oman but also in other states like Sudan and Algeria. He said that his recent exploratory trip to Oman was an indication of Petra's aggressive move to explore other markets as it had been encouraged by Petroliam Nasional (Petronas) not to just provide services locally but also to venture abroad.
Ibrahim said the company had been invited by the Omanese after they got to know about the Petra Resources abilities in engineering and maintenance services, equipment packaging, fabrication of pro-cess equipment, supply of engineer-ed equipment and information technology services. "The Omanese firms heard about us and being an Islamic country, they were looking for Muslim vendors or contractors," Ibrahim said.

Petra Perdana, via its wholly-owned subsidiary Petra Resources, provides engineering and maintenance services to onshore oil terminals and offshore production platforms owned by major petroleum and gas companies such as Petronas Carigali, Petronas, Sarawak Shell, Sabah Shell Petroleum, Esso Production Malaysia and Malaysia LNG.
Petra Perdana, via Petra Resources, has emerged as the first Bumiputra company to locally re-manufacture parts for mechanical and rotating equipment used in theoil, gas and petrochemical industries at its workshops in Miri, La-buan and Kemaman. Its vendor programme includes the outsourcing of the upstream project management and downstream activities in the oil and gas industry.
"After seeing how successful the vendor programme is here, the Omanese wanted such a programme to be set up there and have sought our knowledge on how to embark on it," Ibrahim said. On their plans in Oman, Ibrahim said he and Petra Resources executive director Robert Lee had met five or six companies to discuss and evaluate the Petra Resources business possibilities there.

Lee said that once Petra Resources had completed evaluating its business venture in Oman, it would choose only one company to work with. "We are very serious in one company already -- the Petroleum Development Oman," he said. He said, however, that Petra would wait for the evaluation to be completed before making a decision.
Lee said that among the aspects being evaluated were the technical, financial and political viability of the venture. Ibrahim said that if the talks came through, the Omanese would send their equipment to Miri or Kemaman. Although Ibrahim could not provide further details on the business deal, he said that it would not only include engineering services for the oil and gas industry but also the purchase of spare parts which it manufactured locally.
Lee said that there could be also the exchange of personnel, with engineers from Petra sent to Oman to train the manpower there. Asked if the deal would be on a joint-venture basis, Ibrahim said that there was a possibility for a joint venture later on but initially it would be more of a business relationship like that of a company with an agent.

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