In a statement PRSB said, “Petra’s core business is the provisioning of integrated services to the oil and gas industry that include seismic data acquisition, platform facilities and equipment maintenance all of which require marine support. PRSB will provide maintenance, hook-up, commissioning and construction services to [Shell’s] topside facilities of production platforms located offshore.”
“The contract value [will] be approximately RM600 million (US$158 million) based on tender requirements at the point of submission and work [is] to start by February 2005,” it added.
According to Petra executive chairman and CEO Tengku Datuk Ibrahim Petra, “The Shell contract came at a time when intense exploration and production activities, including brown field re-development, [are] taking place in the upstream oil and gas sector to increase output.”
“Given our experience in maintenance and retrofit work on oil and gas facilities offshore, we are fully confident of executing the job scope requirements of the contract,” he added.
