UOB Kay Hian Research analyst Kong Ho Meng said while there have not been any large tenders awarded by Petroliam Nasional Bhd (Petronas), it expected contracts to be rolled out from next year. In Malaysia, he said, about 11% or about 35 of the over 300 platforms have been operating for over 40 years, and more than 200 wells have already been identified to be plugged and abandoned.
PETALING JAYA: The oil and gas (O&G) sector in Malaysia is expected to be positive this year and companies with visible catalysts should be among the preferred exposures among investors, a research house said.
Hook-up, construction and commissioning (HUCC) and maintenance, construction and modification (MCM) companies are preferred exposures on the back of recovering work visibility and improvement in oil prices.
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