KUALA LUMPUR: Epic Bhd, a Terengganu government-linked company (GLC) under the Terengganu Inc Group, has signed a memorandum of understanding (MoU) with Timor-Leste’s national oil and gas company Timor Gap to explore collaboration on the development of the Suai Supply Base (SSB).
In a statement, Epic said the SSB is a primary logistics and marine supply base intended to support offshore oil and gas (O&G) operations in the Timor Sea.
Under the MoU, Epic Bhd and Timor Gap will work towards the potential development of the SSB, with Epic Bhd contributing its technical and operational expertise.
The agreement also provides for potential collaboration in related areas, focusing on knowledge and expertise exchange as well as identifying future growth opportunities.
Epic group chief executive officer Dr Muhtar Suhaili said the potential collaboration reflected the group’s capabilities as a Malaysian O&G solutions provider and its ability to extend its expertise and experience to international markets.
“This potential collaboration marks another important chapter for Epic Bhd as we expand our international presence.
“It aligns with our growth strategy and provides an opportunity to contribute to the development of the economies and industry capabilities of both Malaysia and Timor-Leste,” he said.
Epic Bhd said the SSB, similar to the Kemaman Supply Base operated by its subsidiary Pangkalan Bekalan Kemaman Sdn Bhd, is intended to serve as a logistics base and service centre for Timor-Leste’s petroleum industry.
The facility is expected to provide infrastructure and services including fabrication facilities, open yards, mini-shore bases, warehouses and human resources to support onshore and offshore O&G activities.
Muhtar said Epic Bhd would leverage its expertise as an integrated O&G solutions provider across the upstream and downstream value chains to support Timor-Leste’s efforts to develop its O&G infrastructure.
The group’s experience spans O&G supply and support base operations, port management, marine services and renewable energy.
“We look forward to leveraging our expertise as an integrated oil and gas solutions provider across the upstream and downstream value chains, together with our experience across multiple business clusters, including oil and gas supply and support base operations, port management, marine services and renewable energy, to support the Government of Timor-Leste’s efforts in developing the country’s oil and gas infrastructure and strengthening its capacity for onshore and offshore operations,” Muhtar said.
Following the MoU, Epic and Timor Gap will explore opportunities to deepen their partnership through expertise exchange and potential strategic investments.
Epic said the collaboration would provide a platform for both parties to pursue mutually beneficial business opportunities while supporting the development of Timor-Leste’s O&G industry.
