Malaysia Marine and Heavy Engineering Holdings Berhad (“MHB”) announces that it has entered into a Joint Venture Agreement with Technip Geoproduction (M) Sdn Bhd (“TPGM”) for the establishment of a jointly controlled entity, to be known as Technip MHB Hull Engineering Sdn Bhd (“TMH”), that will perform hull engineering services on floating structures for the oil and gas industry.
In offshore applications, the oil and gas industry’s floating production platforms and topsides are supported by floating structures for buoyancy. There are four generic types of floating structures, ie. monohull, spar, semi-submersible and tension leg platform.
TMH will provide conceptual, Front-End Engineering and Design (“FEED”) and detailed design engineering services for these floating structures. Offshore production is extending even more into deep water and unconventional fields. These developments have increased the need and growth prospects for more structurally efficient and innovative floating structures.
Leveraging on Technip’s design engineering capability and MHB’s fabrication expertise, TMH will become the reference company for floating production facilities, hull design and engineering in South East Asia. For global customers, TMH will provide world-class and customer-focused services, delivering robust, safe and fit-for-purpose fabrication-friendly solutions. Based in Kuala Lumpur, TMH will operate with a highly skilled team of Malaysian and international professionals.
MHB is one of Malaysia’s main fabricators of offshore structures and is the only company in Malaysia with a proven track record and the required infrastructure necessary to deliver deepwater offshore structures. With investments in TMH, MHB will thus be able to fulfill its strategic aspiration of becoming a more capability driven organization, hence positioning MHB to eventually be a full-fledged EPCIC contractor that can provide the complete suite of engineering, procurement, construction, installation and commissioning services.
Source: MMHE , July 6, 2011.