Tanjung Offshore to tie up with China’s Jereh

KUALA LUMPUR: Tanjung Offshore Bhd (TOB) is collaborating with China’s largest privately-held oil and gas company Jereh Group to expand TOB’s scope of technology and expertise.
Yesterday, TOB’s subsidiary Tanjung Offshore Services Sdn Bhd inked a collaboration agreement with Jereh Group’s subsidiary Yantai Jereh Petroleum Equipment & Technologies Co Ltd.
TOB CEO Muhammad Sabri Abd Ghani said the collaboration will see Jereh working closely with TOB in relation to oil and gas products and related opportunities in Malaysia for Petroliam Nasional Bhd (Petronas).
TOB will explore potential opportunities and market Jereh’s services in Malaysia while Jereh will provide oil field equipment for projects awarded by Petronas.
“With Jereh’s technology, we will improve our operating efficiency, lower cost and implement continuous technology enhancement,” Sabri said.
Shenzhen stock exchange-listed Jereh is a worldwide leader in providing integrated solutions of oilfield equipment and services for oil and gas drilling, well stimulation and intervention, well completion, natural gas transportation, natural gas liquefaction and environmental management.
Meanwhile, TOB executive director and group CEO Rahmandin@Rahmanudin Md Shamsudin said following the challenging oil and gas landscape, it has diversification in mind but has not decided on further details.
“We’re looking for investment into some other core business and looking into cheap assets in the market that is revenue-generating,” he told reporters after the signing ceremony here yesterday.
“We still have vessel licence. We may go into shipping, brownfield but the timing is not right yet. But when the time is right, we’re ready.”