New high for Dagang NeXchange Bhd
KUALA LUMPUR: Ahmad Zaki Resources Bhd
's (AZRB) subsidiary TB Supply Base Sdn Bhd (TBSB) will provide support services including crew to Carigali Hess Operating Company Sdn Bhd (Carigali Hess) at the Tok Bali supply base in Kelantan.
AZRB, which is a civil engineering and construction company, said on Tuesday TBSB had signed a two-year service contract which would last until February 2019.
AZRB group managing director Datuk Seri Wan Zakariah Wan Muda said the signing of the contract was just after AZRB had acquired a controlling stake in the supply base.
“We stand to see significant contribution to the group’s financial performance going forward, and would also strive to secure more PSC (production sharing contract) operators,” he said.
Wan Zakariah added AZRB was investing RM26.8mil as capital expenditure to enhance the facilities at the Tok Bali supply base.
“This comprises improvements to the supply base’s infrastructure, such as machinery, warehouses and land for shipyard to better serve existing and potential PSC operators,” he added.
It was on Jan 16, 2017 that AZRB had completed the purchase of a 51% stake in Matrix Reservoir Sdn Bhd – the holding company of TBSB which operates the Tok Bali supply base.
In addition to Carigali Hess being a new client, HESS Exploration & Production Malaysia B.V. (HESS) has been a tenant at Tok Bali Supply Base since September 2015. It took up 5,000 square metres of open yard area, complete with 1,675 square metres of warehouse as well as office space at the supply base.
Tok Bali Supply Base is a full-service oil and gas supply base, providing services such as fuel and water supply, mechanical handling and equipment, bonded warehouses, customs, immigration and quarantine (CIQ) services, as well as office spaces.
AZRB said the base is cost effective for platform operators as it reduces the travelling time between the supply base and oil platforms that are located in the North Malay Basin, Malaysia-Thailand Joint Development Area, as well as the Commercial Arrangement Area between Malaysia and Vietnam.
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