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Barakah Offshore Petroleum bidding for $409m in new jobs

Barakah Offshore Petroleum is bidding for MYR1.7bn ($408.5m) worth of jobs in the local and international markets and looks to be in good shape to ride the upturn in the oil and gas industry when it comes, local reports said.

Vincent Wee, Hong Kong and South East Asia Correspondent

June 2, 2016

1 Min Read
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Group president and ceo Nik Hamdan Daud said the company had also secured MYR1.6bn of orders despite the overall industry slowdown. The company said that most of its new jobs would keep the group busy until 2018.

Last year, the group only managed to secure MYR170m of work orders.

Moving forward Nik Hamdan said the group is confident that its lean business model and cost cutting measures will make Barakah resilient and put the group in a good position to tap into a sustained recovery in the oil and gas industry.

"We are on track to be able to survive this," he said.

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Malaysia

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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