October 21, 2016 11:51 AM ET

Company Overview of Petrofac Energy Developments Sdn Bhd

Company Overview



Key Executives for Petrofac Energy Developments Sdn Bhd

Petrofac Energy Developments Sdn Bhd does not have any Key Executives recorded.

Petrofac Energy Developments Sdn Bhd Key Developments

Petrofac Energy Developments Sdn Bhd, Kencana Energy Sdn Bhd and Sapura Energy Ventures Sdn Bhd Reaches Mutual Agreement with PETRONAS for Cessation of Berantai Risk Service Contract

Petrofac announced that Petrofac Energy Developments Sdn Bhd and its partners, Kencana Energy Sdn Bhd and Sapura Energy Ventures Sdn Bhd, have reached mutual agreement with PETRONAS for the cessation of the Berantai Risk Service Contract (RSC). With the cessation of the RSC, which will be effective on 30 September 2016, PETRONAS will reimburse the balance of outstanding capital and operational expenditures to Petrofac and its partners over the period to June 2017. As part of the arrangement the ownership of the Berantai FPSO will be transferred to PETRONAS. The Berantai RSC was the first RSC awarded by PETRONAS to Petrofac Energy Developments Sdn Bhd and its two local partners on 31 January 2011. Since then it has co-invested in the development of the Berantai field and been responsible for its operation and maintenance. Petrofac will use the cash proceeds for general corporate purposes.

Seven Companies Sign Joint Venture Agreements on Oil and Gas Operations and Services with Pangkalan Bekalan Kemaman Sdn Bhd

Seven companies have signed joint venture agreements on oil and gas (o&g) operations and services with Pangkalan Bekalan Kemaman Sdn Bhd, which operates the Kemaman Supply Base (KSB). The companies were Petronas Carigali Sdn Bhd, Exxonmobil Exploration and Productions Malaysia Inc, Talisman Malaysia Limited, Hess Exploration and Production, Lundin Malaysia BV, Petrofac (Malaysia) Limited, and Petrofac Energy Development Sdn Bhd. Besides the seven companies, 260 small companies were also involved oil and gas activities at KSB, providing over 15,000 jobs to locals in Kemaman. In the quest to develop KSB into a premier base in the peninsula, the state government has allocated 280 hectares of land to improve the port, warehouses and storage facilities for industrial equipment. Plans are afoot to build luxury residential properties and shopping complexes to provide conducive environment for the staff of these companies to stay and shop in Terengganu.

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