KUALA LUMPUR: Straits Energy Resources Bhd's (SER) subsidiary Tumpuan Megah Development Sdn Bhd (TMD) has bagged a call-off contract from PetroVietnam Technical Services Corporation (PTSC) for the supply of diesel for the PM3-CAA project.
PTSC is a member of the Vietnam National Oil and Gas Group (PetroVietnam) and has established itself as a multi-sector corporation and leader in providing oil and gas technical services in and outside Vietnam.
The contract will last about three and half years from December 6, 2021, to June 4, 2025, and has no specific value as the supply of diesel will be on-call basis throughout the duration of the contract.
The PM3-CAA project involves offshore fields located throughout a 2008 square kilometre (sq km) in the overlapping zone between Malaysia and Vietnam.
This is the first international contract secured by SER as it expanded its footprint throughout the region and this award is a recognition of the company's brand name in delivering reliable services and quality products.
"With this contract, PTSC will get to enjoy highly reliable, efficient and safe fuel delivery services through SER's comprehensive network, infrastructure and tight operating procedures," it said.
SER group managing director Datuk Seri Ho Kam Choy said the company has been working the last few years tirelessly to grow its business, and this contract win has further given SER's the impetus to scale new heights.
Ho said with the company's established network, infrastructure and fleet size of 14 vessels, it stands ready to deliver reliable services and products for this PTSC project.
"Moving forward, we will explore further with PTSC for other areas of collaboration in their other projects to increase our revenue stream," he said.
SER is principally engaged in oil trading and fuel bunkering services, ship management, port operation and management, inland transportation and investment holding activities.
Oil bunkering services involve refuelling marine fuel oil and marine gas oil through its vessels to other ships and ocean-faring vessels such as oil tankers, container vessels, cargo vessels and cruise ships.
Currently, its 70 per cent owned subsidiary TMD operates in 15 ports in Malaysia.