New deepwater discoveries stir excitement
New Straits Times
11 October 2004

The recent rash of oil and gas discoveries in deepwater exploration has sparked a lot of excitement among the Malaysian industry and supporting players, Ramunia Fabricators Sdn Bhd included.
Managing Director, Arshad Ahmad said it looks forward to the new developments, including the ultra-deepwater which Petroliam Nasional Bhd will be developing in eastern Sabah.

"These developments provide us with the opportunities to explore and display our fabrication techniques. It also provides us the opportunities to increase our future order book. We are very excited about this," he told Business Times.

Although deepwater and ultra-deepwater involves significant investment, especially in using more up-to-date technologies, Arshad said the company will bid for some of the components of the packages offered.

"We are bidding for some parts of the projects with some other international contractors," he said.

He said Ramunia Fabricators has the capability to implement the packages, especially for the topside platform facilities for the tension leg or SPAR platforms.

In terms of investment in deepwater and ultra-deepwater, Arshad, who is also Ramunia Holdings' Chief Executive Officer, said that companies have to be very serious in venturing into these explorations as the investment is quite exorbitant.

"If they invested in this development, it would mean they are deciding for the world. It is not everyday we get such contracts. We have to look at them carefully and compete."

Stages of oil and gas development cover exploration (client mapping), development plan, engineering (concept, basic design), fabrication, transportation, installation, hook-up, commissioning, operation and maintenance and decommissioning.

"We are more on the development plan, including drilling, fabrication, and operation and maintenance. We also have the license for hook-up and decommissioning," Arshad said.