Petrofac has a long heritage in Malaysia. Seventeen years ago, we invested in block PM304* and a few years later began overseeing operations. With the acquisition of RNZ International and the forming of Petrofac-RNZ, we have over 20 years of experience delivering engineering and consultancy services for our clients. In the years that have followed, Petrofac has worked closely with its partners to develop the block through developments including the Cendor Phase 2 (CP2) and Berantai* operations.
What are some of your organisation’s proudest moments/milestones in Malaysia?
Our recent notable milestone was when the East Cendor field in block PM304 achieved its first oil production back in June this year. We are pleased to learn that the production rate is to peak at over 7,000 barrels of oil per day which in turn extends its economic life.
Petrofac’s acquisition of block PM304 in 2004 is an important milestone as it put us on the map in Malaysia and increased our prominence in the country. The block initially started as a small field development back in 2006, so we are extremely proud to witness its growth.
Based on your experience in operating in Malaysia, what are the 3 most important criteria for achieving business success in Malaysia?
Safety and compliance are paramount for any Petrofac project, regardless of its location. We deliver both of these elements in unison to ensure operational success. Moreover, utilising a local workforce is key – this approach aligns with Petrofac’s commitment to drive In-Country Value. This enables us to engage with SMEs to flourish, upskill and train local workforces and implement community programmes, which we believe leaves a lasting impact on the economy.
How has your business evolved during this pandemic, especially in terms of optimisation of human and technology resources?
Petrofac had been on a digitalisation journey. Over the last few years the Group has invested significantly in technology and infrastructure. This groundwork supported us to adapt quickly, pivoting our working arrangements to support office-based workforces to work effectively from home. As a business we pride ourselves on our agility, but the pandemic put this to the test, demonstrating just how flexible our teams are. As we move back into the office, we are working to ensure we capture and build on what we’ve learned.
How do you see your business growth and prospects in Malaysia / the UK now?
As one of the leading service providers to the energy industry, we must continue adapting to new ways of handling client deliverables and keep this focused on the future. We are prioritising delivering operational excellence, supported by investment in digitalisation, automation, and process efficiency. Our strong track record of delivery and a small but growing presence in new energies opportunities further assure our growth in the near future.
Malaysia has a robust, developing economy and remains an attractive developing nation with constructive local partnerships. Nestled within the SEA region, Malaysia’s strategic location is something we can leverage for our business growth.
What recommendation or advice would you give to other companies looking to invest or do in business in Malaysia?
As a growing nation in the SEA region, Malaysia hosts a talent powerhouse among its people. Hence, I would recommend companies to take advantage of the diverse workforce that’s capable of delivering operational excellence at a global scale. We have various educational institutions that primarily focus on energy industry-related courses. Energy companies can leverage this to engage young talent who can contribute a fresh perspective to their business operations.
What are the top 3 reasons for your organisation joining the BMCC?
Petrofac is always keen to understand how other industries operate and learn about the processes that contribute to their performance, efficiency, safety and employee wellness. BMCC supports this kind of knowledge sharing.
Aside from that, benefits provided to BMCC members such as educational programmes and healthcare are valuable to our employees.
Lastly, Petrofac appreciates the networking benefits that BMCC has to offer. We welcome connections with like-minded organisations. As a platform that connects various organisations, BMCC offers networking opportunities that we can leverage.
What is the top value you see for yourself or your organisation in being a member of the BMCC?
Connecting with organisations across various industries which can promote mutually beneficial relationships. Such business relationships could lead to collaborative efforts across organisations including partnerships and community outreach programmes.
In one sentence, how would you describe your own experience or your organisation’s experience as a member of the BMCC.
It has been positive; enabling interaction with other industry players, particularly facilitating discussions on digitalisation, renewable and new energy; in turn, we have increased visibility of future business opportunities.
*Editor’s Note: The Cendor Phase 2 and Berantai fields are O&G projects under the block PM304 development, located 140km offshore Peninsular Malaysia.