Barakah Offshore chairman resigns

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KUALA LUMPUR (Aug 8): Barakah Offshore Petroleum Bhd’s independent non-executive chairman Datuk Mohamed Sabri Mohamed Zain, has stepped down “due to personal reasons”.

In a filing with Bursa Malaysia today, the Practice Note 17 company did not provide further explanation on Mohamed Sabri’s resignation.

Mohamed Sabri, 63,  was appointed to Barakah Offshore’s board of directors as chairman on July 7, 2014.

Barakah Offshore is in the midst of a dispute with Petroliam Nasional Bhd (Petronas), whereby the group is demanding RM1.02 billion as compensation from the latter and its exploration arm Petronas Carigali Sdn Bhd.

The dispute came after Petronas suspended the operating licence of Barakah Offshore’s wholly-owned unit PBJV Group Sdn Bhd for three years because of non-performance in relation to a contract for the provision of underwater services to Petronas Carigali.

This means PBJV will not be awarded or allowed to bid for any jobs by Petronas or its petroleum arrangement contractors.