Malaysia’s Barakah Offshore Petroleum, via subsidiary PBJV, and Norwegian subsea service provider Ocean Installer have signed a collaboration agreement to exclusively work together in Malaysia.
The two companies will share expertise and resources to develop business in Malaysia for the deepwater installation of subsea umbilicals, risers and flowlines (SURF) and related services.
Encik Nik Hamdan Daud, deputy executive chairman of Barakah Offshore, commented: “This collaboration will allow us to serve the full spectrum of subsea installation market for Malaysia’s O&G industry and a step up for Barakah to be involved in deepwater segment. Together, we hope to provide good value for money solutions to our existing/potential clients. We are optimistic that the co-operation will support Barakah’s ambition to move up the value chain.”
Barakah said that the two companies will focus to provide cost effective fit-for-purpose solutions for the current market where clients are adapting to the low oil price environment.