Petronas: Sinopec JV not involved in bid

Petroliam  Nasional Bhd has clarified the Sinopec-Sabio- IODC group has not taken part in any of its prior processes in the development for marginal offshore oil field in Malaysia.


Petronas said on Wednesday, July 27 as part of the risk service contract (RSC) petroleum arrangement, the selection criteria was the local company must have a proven track record as an established oil and gas service provider, apart from being a listed entity.

The national oil company was clarifying news reports the Sinopec Petroleum Services Corp, Sabio Oil & Gas Sdn Bhd and International Oil Design & CONSTRUCTION [] Sdn Bhd (IODC) consortium was poised to be awarded a contract for the development of a marginal offshore oil field in Malaysia.

In its clarification, Petronas said it  was developing in phases a number of marginal offshore fields in Malaysia under the RSC arrangement.

It said that it had already completed a data review process with parties interested in the fields identified for the first phase of the development and has so far awarded a RSC for the Berantai field to the Petrofac-Kencana-Sapura partnership.
“While Petronas is extremely encouraged with the interest shown by various local and international industry players in the country’s marginal fields, the Sinopec-Sabio- IODC consortium has not taken part in any of our prior processes.

“In addition, as part of our selection criteria, any local company to be selected by foreign partners to participate in the RSC petroleum arrangement is required to have a proven track record as an established oil and gas service provider, apart from being a listed entity,” it said.(theedgemalaysia.com)