At a press conference in Kuala Lumpur, Datuk Shahril Shamsuddin, the firm's executive vice chairman, announced that the company's shareholders had approved the acquisition of the US$70 million self-erecting tender rig the T-9.

"The T-9 allows us to maximise the opportunities for growth and expansion available to us in Malaysia and around the region. As one of the most efficient, safest and most technologically advanced drilling platforms in these waters, the T-9 offers Crest an even greater advantage in maintaining and growing its position as the leading provider of integrated oil and gas services in this part of the world," said Shahril.

The T-9, a JV between Crest and Smedvig Asia, is currently under construction at Malaysia Shipyard & Engineering Sdn Bhd's Pasir Gudang dockyards.

The company has also decided to streamline its operations by acquiring the Teknik Berkat self-erecting tender rig via its Varia Perdana JV with Smedvig Asia.

"The acquisition of out fleet, along with the streamlining of our operations offers our local and regional customers a broad based and more comprehensive, flexible and technologically advanced solutions to their integrated oil and gas services needs," said Shahril.

"Where previously we had a division of resources and a duplication of efforts, we now have better economies of scale, increased flexibility and focus in resource allocation as well as the ability to provide our clients with a greater degree of integrated services in the oil and gas market," he added.