Ahmad Zaki buying 51% of O&G supply base owner

PETALING JAYA: Ahmad Zaki Resources Bhd (AZRB) is buying 51% equity interest in Matrix Reservoir Sdn Bhd for a total consideration of RM55 million.
Matrix Reservoir owns TB Supply Base Sdn Bhd, which is the operator of the Tok Bali Supply Base in Kelantan.
In a statement yesterday, AZRB group managing director Datuk Wan Zakariah Wan Muda said the group’s participation in Matrix Reservoir represents a natural and strategic expansion of its oil and gas business.
The group has been in the bunkering services business at an onshore supply base for over 20 years, he added.
Over the next five years, Wan Zakariah said, the group plans to spend RM100 million in capital expenditure on Tok Bali Supply Base.
“This includes equipping the supply base with all the critical equipment and services to meet the requirements of the production sharing contractors and service companies,” he added.
Tok Bali Supply Base currently offers bunkering services for fuel and potable water, mechanical handling, bonded warehouses, and customs and immigration and office space.