Dec 8, 2012

Scomi wins job in Myanmar

Scomi Group Bhd has been awarded a drilling fluids and drilling waste management contract in Myanmar worth about RM93.6mil.

Scomi's oilfield services business under Scomi Oiltools Bermuda Ltd will provide PTTEP International Ltd (PTTEPI) drilling fluids and drilling waste management equipment and related engineering services for three blocks in Myanmar.

The company said in a statement the contract was commencing in the fourth quarter of 2012.

Since 2003, Scomi Oiltools has been servicing major clients in Myanmar including PTTEPI and Daewoo.

Scomi said Scomi Oiltools had embarked on various initiatives to strengthen its support services in anticipation of the growth prospects in the region, establishing a drilling fluids laboratory with trained laboratory engineers in Thailand.

Additionally, Scomi Oiltools' Thai operations will act as the second regional centre for its drilling waste management services and provide training and workshop services to support regional operations, with the other being in Dubai.

“We are excited about the prospects of this contract.

“Not only will we be able to be a dynamic partner to our client, but this gives us the opportunity to give back to the communities through developing local human talent and working with local partners to develop the above facilities.” said Scomi Oiltools president of market units Wan Ruzlan Iskandar Wan Salaidin said..

The group's focus for its oilfield services business is in the Eastern Hemisphere, which it sees as the growth area for the region.

The oilfield services business has an order book of more than RM1.7bil and the group has participated in tenders in excess of US$1bil (RM3.06bil).

On the ongoing corporate merger of the oilfield services and energy logistics divisions, the group said Scomi Marine would create an entity with enhanced capabilities to support the anticipated increase in drilling activities in the region.

The group expects the merger to be completed early next year.

Source: The Star Online