Tanjung Offshore scores Malaysian deals with Petronas and PTTEP

Tanjung Offshore scores Malaysian deals with Petronas and PTTEP

A subsidiary of Malaysian energy solutions provider T7 Global, Tanjung Offshore, has received letters of award (LOA) from Petronas Carigali for integrated well services and PTTEP for maintenance work in Malaysia. The contracts are worth approximately RM150 million (around $36 million) in total.

Illustration; Source: T7 Global

T7 Global Berhad confirmed on Wednesday that Tanjung Offshore had secured two contracts worth a combined value of approximately RM150 million under its energy division for integrated well services and operations and maintenance businesses. The first letter of award was received from Petronas Carigali for the provision of plug and abandonment integrated services for the M3 oilfield. This contract is valid from 14 October 2021 to 31 December 2022.

Datuk Seri Dr. Nik Norzrul Thani Bin N. Hassan Thani, T7 Global’s Chairman, commented: “With M3 award, we have cemented our position as an integrated well services player in Malaysia and reaffirmed our technical capabilities to undertake complex offshore projects in the energy value chain.”

The second letter of award was received from the PTTP Group – PTTEP Sabah Oil and/or PTTEP Sarawak Oil and/or PTTEP HK Offshore – for the provision of Gastec nitrogen generator maintenance services and spare parts. The contract started on 2 July 2021 and is valid until 1 July 2023.

“PTTEP Award shows our continuous commitment to provide after-sales service and life-cycle solutions for Gastec On-site Nitrogen Generation System at their facility,” stated Thani.

The first contract was awarded under the Pan Malaysia Umbrella Contract from 20 September 2019 for the provision of integrated well services for intervention, workover and abandonment for Petronas and Petroleum Arrangement Contractors (PACs).

Thani explained: “On the Integrated Well Services side, M3 Award is our second project in succession from Petronas Carigali to plug and abandon ten wells, following the previous work order award for plug and abandonment integrated services for Pulai-A project dated 29 March 2021. Pulai-A project was successfully completed with five wells plugged and abandoned safety and ahead of time.”

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The Pan Malaysia Umbrella Contract allows Tanjung Offshore to participate in integrated well services works for workover and well abandonment in Malaysia.

“Integrated well services, which cover workover of producing wells and abandonment of old wells shall form part of T7’s long-term energy solutions. We are optimistic of the local oil and gas industry’s outlook with Petronas maximising its oil production in the short term and expects 500 wells to be permanently plugged by 2030,” elaborated Thani.

Thani added: “In the coming year, we aim to ride on our previous success to secure the next integrated well services job under the Pan Malaysia Umbrella Contract premised on our innovative well solutions and good project execution track record.”

In recent company news, T7 Global was awarded a contract by Pioneer Pegasus for the provision of mini remotely operated vehicles (ROVs) used for underwater services.

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Tanjung Offshore was expected to provide underwater inspection and maintenance services for ten platforms accumulatively in Sabah and Sarawak using mini ROVs.