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Monday, 08 September, 2008, 17:40 GMT | more prices >>

Petra paddles into Aussie offshore



By Upstream staff 

Malaysian energy services group Petra Perdana is to team up with two Australian outfits to offer marine services to offshore oil and gas producers in Australia and New Zealand, press reports said.

Petra Perdana is to join with The Underwater Centre Freemantle (TUCF) and CJES Trust to form a joint venture called Petra Marine Australia, the Malaysia Star newspaper reported today.

Marine operator and diving services contractor TUCF would provide the operating capability for the venture while CJES would market the new company in Australia and New Zealand, the paper said.

The company might extend its operations to other countries in South East Asia by mutual agreement of the parties, Petra Perdana reportedly said.

Petra Marine Australia, with an initial capitalisation of A$1 million (US$960,000), is 55% owned by Petra Perdana, with TUCF and CJES each holding 25%.


Thursday, 03 July, 2008, 00:47 GMT  | last updated: Thursday, 03 July, 2008, 05:34 GMT

Ready to ride: Petra Perdana has formed a joint venture to offer marine services off Australia and New Zealand
 

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