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EPP 7
There are five major offshore structure fabricators in Malaysia,
none of which has the required scale or track record to efficiently
compete with major regional players. Industry players say that
there is a need for consolidation within the industry to match the
scale and efficiency of major regional players.
Consolidating the many companies operating within the
industry would require PETRONAS to award licenses to only a
limited number of domestic fabricators, who are open to such
intervention.
Achievements
Consolidating Domestic Fabricators
In September, Malaysia Marine and Heavy Engineering Holdings
Bhd (MMHE) made an offer to acquire Sime Darby’s Pasir Gudang
fabrication yard. The acquisition, worth some RM393.5 million,
EPP 8
is expected to be completed by Q1 2012, which will make MMHE
the largest fabricator in the country with its yard size increasing to
488 acres. Its capacity will also increase to 69,700 metric tonnes
per year.
Moving Forward
Discussions between OFSE players in Malaysia are underway,
and in 2012 we target two additional mergers or acquisitions of
domestic fabricators.
Developing Capabilities and Capacity Through
Strategic Partnerships and Joint Ventures
At present there are considerable gaps in the domestic OFSE
industry, with Malaysian companies lacking capabilities and
experience particularly in engineering and installation, limiting
their ability to gain a strong share in the regional market. This
EPP aims to incentivise domestic companies to form joint
ventures with world class companies to build their capabilities
and track records.
Strategic partnerships offer opportunities for domestic companies to form joint
ventures with world class companies to build capabilities
Achievements
Bureau Veritas, a global leader in conformity assessment and
certification services recently acquired Scientige Sdn Bhd,
a Malaysian based company specialising in asset integrity
management services.
Through this strategic acquisition, Bureau Veritas will strengthen
its local presence by enhancing technology and knowledge
transfers as well as expediting the level of in-house competency.
The new organisation will serve as the heart of the technical
operations in the South East Asia region, providing services to
Singapore, Thailand, Vietnam, Brunei and Indonesia.
In 2011, Sapuracrest Petroleum Berhad and Kencana Petroleum
Berhad laid out plans to merge. The merger, worth RM11.85
billion, will create Malaysia’s largest integrated oil and gas service
provider by assets. The merger is expected to be completed by
Q1 2012, and SapuraCrest Kencana Petroleum Bhd will become
the fourth largest provider in the world by assets.
In addition to this, there were a number of strategic partnerships
between local companies and international players. For example,
Dialog Group and the Johor State Government formed a
consortium with Royal Vopak (from the Netherlands) to develop
an oil terminal in Pengerang, Johor. Partnerships between Petrofac
(UK), Kencana Petroleum and Sapuracrest Petroleum (both
Malaysian) as well as between ROC Oil (Australia), Dialog Group
and Petronas Carigali (both Malaysian) were formed to develop
marginal oil fields.
Moving Forward
NKEA: Oil, Gas and Energy EPP 6 – EPP 8
The target for 2012 will be for two additional joint ventures.
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