PETRONAS Completes Sale of E&P O&M Services

Source: www.gulfoilandgas.com 3/30/2022, Location: Asia

PETRONAS Carigali Sdn Bhd (PCSB) announced the completion of the transaction for the transfer of its entire ownership in E&P O&M Services Sdn. Bhd. (EPOMS) to Janamurni Sdn. Bhd.

EPOMS is wholly owned by E&P Venture Solutions Co. Sdn Bhd (EPVS), a subsidiary of PCSB. Incorporated in 2012, EPOMS provides integrated frontline operations and maintenance services for all floating facilities, including associated flowlines and pipelines, in Malaysia.

EPVS signed the Sale and Purchase Agreement (SPA) on 29 December 2021 with Janamurni Sdn Bhd, which includes the transfer of all EPOMS staff’s employment contracts to the new owner.

The exercise follows PETRONAS’ continuous review of its business portfolio to ensure a better fit in its growth strategy in the increasingly evolving energy landscape.

PETRONAS remains focused on maintaining a robust portfolio with a healthy and sustainable risk and return profile as it expands into non-traditional businesses, including new energy and renewables, to improve its low carbon profile and advance its sustainability agenda.


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