Tanjung Offshore to diversify to raise profitability

KUALA LUMPUR: Oil and gas services provider, Tanjung Offshore Bhd (TOB), is looking to venture into upstream oil fields in other South-East Asian countries and Australia in efforts to diversify from relying solely on Petronas and Malaysia.

TOB would also pursue more downstream projects and support services around Petronas's Refinery and Petrochemicals Integrated Development (Rapid) project, an industry source said yesterday.