Tanjung Offshore looking at brownfield opportunities

He added that Tanjung Offshore was in discussions with two international oil operators to form a consortium or partnership to go into brownfield development.“We will try to focus on Sabah, Sarawak and Terengganu as most of the fields are brownfields,” he said.

Tan said the company would also look into the possibility of venturing into neighbouring countries such as Indonesia, Vietnam and Myanmar and other parts of Southeast Asia. He said the company would strengthen maintenance services, venture into the offshore support vessels (OSV) niche market and grow its unit, Gas Generators (Gastec).

“Gastec provides nitrogen packages to the industry and has room to grow. The company is already in a few Southeast Asian and West Asian countries, and has plenty of opportunities to grow,” he said.

Meanwhile, Tanjung Offshore would wait for the right time to re-enter the OSV market when charter rates are favourable.And despite the slowdown in the O&G sector, necessary expenditure on services and maintenance continues and the company has recently received jobs for topside maintenance and maintenance of safety equipment on platforms.