Ramunia eyes offshore floating oil, gas biz via tie-up with Drydocks World
Written by Joseph Chin of theedgemalaysia.com
Tuesday, 22 March 2011 15:59
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KUALA LUMPUR: RAMUNIA HOLDINGS BHD [] plans to venture into the offshore oil and gas business in Malaysia and the region via a tie-up with Drydocks World of Dubai and NTM Refectio II AS (NTM).
Ramunia said on Tuesday, March 22 it had sealed an agreement with the two parties for a floating production, storage and offloading (FPSO) deep producer vessel, known as the MT Laurita.
It said the arrangement would enable it to venture into the field of engineering, procurement, CONSTRUCTION [], installation and commissioning. It plans to provide the full offshore production facilities and to penetrate into the growing offshore floating facilities business within the local and regional upstream oil and gas sector.
Ramunia said it planned to expand into the offshore floating business within the upstream oil and gas sector to take advantage of the significant spending for the oil and gas and energy industry under the Economic Transformation Programme.
Drydocks World of Dubai is a subsidiary of Dubai World Corporation.