We own, operate and charter vessels to provide support for exploration, development and production activities in the offshore O&G industry. Equipped with in-house expertise, we are also able to project-manage the construction of our vessels.
We are one of the largest OSV owners and operators in South East Asia with over 40 vessels of various types and have operated in over 10 countries including
Malaysia,
Brunei,
Vietnam,
Congo,
Nigeria,
Venezuela and
Mexico.
We replaced older, lower-end and lower tonnage vessels with our “Steel on Water” OSV fleet expansion programme which was launched in 2006 and was completed in 2010. The programme outlined the construction of 20 new OSVs with a total value of RM1 billion. This programme was initiated in anticipation of shifting trends in E&P, away from continental shelf shallow waters into deeper waters and harsher environments which require more sophisticated and higher horsepower OSVs. These newer vessels, with output in excess of 8,000 bhp, are equipped with DP capability and digital global positioning systems that allow the vessels to stay at a programmed position using computer-aided thrusters and propulsion systems. The total installed bhp of our OSVs is 220,000 bhp.
We believe that the introduction of these new OSVs has enabled us to strengthen our position in the international offshore sector and our early commitment to a newbuild programme in 2006 was an opportune move, enabling us to secure shipyard slots and procure major equipment and machinery at competitive rates ahead of our competitors. We believe our timely investment in fleet expansion and fleet renewal gave us a cost advantage over our competitors.
In addition to adding new OSVs, we continue to monitor the vessel mix and efficiency levels of our overall fleet to ensure we have the right balance between vessel age and customer requirements.
Our existing fleet of vessels are able to provide services in a variety of situations and it comprises: