Scomi Energy Services bags RM300m oilfield contracts

PETALING JAYA: Scomi Energy Services Bhd's oilfield services division has secured RM300mil worth of contracts in the last three months.
These contracts are to provide drilling fluids and drilling waste management services in Australia, Pakistan, India as well as West Africa.
It added the clients included national and international oil companies.
During the same period, its marine logistics division bagged a RM175 million affreightment job from TNB Fuel Services Sdn Bhd.
Collectively, the value of contracts secured in the last three months has surpassed RM475 million.
Scomi Energy CEO Shah Hakim Zain said the significant amount of contracts won in last three months provided the company a major boost to kick-start the new year.
"Our decision to adopt an asset-light strategy focusing on growing core business, expanding product lines and building integration capability has been well rewarded as evidenced by our continuous success in winning new contracts," he said in a statement yesterday.
Shah Hakim said the strategy, which was put in place well before the oil price crisis, had helped the company weather the current tough market conditions.
"It has allowed us to remain competitive amidst the uncertainty in the oil and gas sector.
"Consequently, we are able to remain active in the market by continuing to put in competitive bids for new contracts. We have also been actively introducing graphene-enhanced products and applications that include drilling and completion fluids, production chemicals, EOR solutions, water treatment and well enhancement and stimulation," he added.