Kuala Lumpur: Perisai Petroleum Teknologi expects its offshore drilling business to contribute as much as 40% to total sales by year-end, thanks to the delivery of its first jack-up drilling rig.
By 2016, when all three of its new rigs are operational, the oil and gas service provider foresees the new sector’s contribution to rise to 60%.
“The Malaysian market has a demand for about 15 jack-up rigs a year, and only two are locally-owned.
“The pie is big for more Malaysian players to gradually establish their know-how, and own more rigs in the industry,” managing director Izzet Ishak told reporters yesterday after the launch of Perisai Petroleum Teknologi’s maiden drilling rig, the Perisai Pacific 101. [17/07/14]