Pan Malaysia T&I Contracts Winners

Four Packages     On 13 Dec 2013, Petroliam Nasional Berhad (PETRONAS) awarded the Pan Malaysia Integrated Offshore Installation Contract covering domestic upstream oil & gas offshore Transportation and Installation (T&I) activities for a period of three years commencing Year 2014.

According to PETRONAS, the total work value under this contract is estimated to be almost RM 10 billion, spread over four packages, and was awarded to three capable local offshore installation contractors (OICs) namely,

• TL Offshore Sdn Bhd             <- belongs to SapuraKencana Petroleum Bhd
• PBJV Sdn Bhd                       <- belongs to Barakah Offshore Petroleum Bhd
• GOM Resources Sdn Bhd     <- belongs to Puncak Niaga Holdings Bhd

Five Packages?        Based on earlier Upstream online news in Nov 2013, there’re supposed to be five packages up for grab. They are as follows:

1. Package A requires pipelay barges with lifting capacity of 250-300 tonnes.
2. Package B is for pipelay works, requiring barges between 300 and 800 tonnes of lifting capacity.
3. Package C, D and E are for vessels with lifting capacities of 800 tonnes and are opened to international bidders due to limited availability of local vessels matching the specifications.

Likewise, the estimated contract value for all five packages ranges from RM13 to 22 billion according to Maybank KE.

Following PETRONAS announcement on 13 Dec 2013, Barakah Offshore Petroleum Bhd and Puncak Niaga Holdings Bhd have also announced being awarded Package A and Package B respectively. It remains unclear why SapuraKencana Petroleum Bhd has yet to announce their winning bid. Perhaps, it is due to one of the missing package that is supposed to be tendered out. More details are required to clear the air.

Potential Triangle Breakout        Meanwhile, technically charts of Puncak Niaga Holdings Bhd, Barakah Offshore Petroleum Bhd (not shown due to short listing history) and SapuraKencana Petroleum Bhd have demonstrated several impressive triangle breakouts in the past. It remains to be seen if Friday’s breakout has further room to rise.

PUNCAK 

SAPURA KENCANA