Integrated oil & gas brown field services provider, Petra Energy Berhad (“Petra Energy”), and Baker Hughes (M) Sdn Bhd (“Baker Hughes”), yesterday formalised a working relationship via the signing of a Memorandum of Understanding (“MoU”) to undertake oil & gas projects in Malaysia.
Signing on behalf of Petra Energy was Henry Toyad, Chief Operating Officer, witnessed by Mohamad Zaidee Abang Hipni, Chief Financial Officer. Signing for Baker Hughes was Ng Say Heng, Vice President Marketing, Southeast Asia, witnessed by Ajit Menon, Director-Sales Southeast Asia.
Under the terms of the MoU, both Companies will co-operate to provide capability development services, including deploying their respective expertise and knowledge, for oil & gas project operators in Malaysia.
“Today’s MoU signing is a significant milestone for Petra Energy in achieving its vision of becoming an oil and gas development company. This is a natural progression, up the value chain, in our role as an integrated brownfield services provider for the upstream oil and gas industry. Our alliance with Baker Hughes will further strengthen Petra Energy’s ability and provide a stronger platform for the Company to compete for projects in various sectors of the oil and gas value chain in the Country. Baker Hughes expertise in high-performance drilling, evaluation, completions and production technology and services, pressure pumping, integrated operations and reservoir consulting would undoubtedly augur well for Petra Energy,” Henry Toyad said.
Source: Petra Energy, April 4, 2012