Tuesday, May 24, 2011

Ramunia signs FPSO deal

PETALING JAYA: Ramunia Holdings Bhd has signed an agreement with Drydocks WorldDubai LLC and NTM Refection II AS for a floating production, storage and offloading (FPSO) deep producer vessel, known as the MT Laurita.

Ramunia told Bursa Malaysia yesterday that the arrangement would provide the company with an opportunity participate in the development of marginal oilfields and deepwater fields in Malaysia and the region.

“The arrangement also presents an immediate opportunity for Ramunia to participate in any direct negotiations, invitation to bids and requests for new proposals for FPSOs, by Malaysian and regional oil companies,” it said.

The company said it also planned to expand into the offshore floating business in the upstream oil and gas sector to take advantage of the significant spending on the domestic oil and gas sector.

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