Barakah’s billion-ringgit challenge

  • Business
  • Saturday, 10 Aug 2019

Notice of demand: Barakah’s pipelay barge Kota Laksamana 101. Barakah’s subsidiary PBJV Group has issued a notice of demand for RM1.02bil to both Petronas and Petronas Carigali Sdn Bhd.

BARAKAH OFFSHORE PETROLEUM BHD, which recently saw the return of its founder Nik Hamdan Daud to the helm of the loss-making company, shot into the limelight when it made a RM1.02bil compensation demand from Petroliam Nasional Bhd (Petronas) over what it claims to be an unwarranted suspension notice.

It is not often that a local oil and gas outfit take on Petronas – the national oil company.

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