Malaysia’s Petronas has lifted the suspension imposed on Barakah Offshore’s subsidiary, PBJV, after more than two years.
The suspension was lifted on April 6, 2023, Barakah Offshore said in a filing with Bursa Malaysia.
“Following the upliftment, any licence renewal application by PBJV is subject to assessment and consideration in accordance with the Petronas’ licensing and registration requirements,” the company said, adding that it will take all the necessary steps towards the licence renewal.
Petronas issued a three-year suspension notice on PBJV in July 2019 over alleged non-performance. After the suspension, Barakah Offshore unit was not allowed to bid for new projects undertaken by Petronas.
