KUALA LUMPUR: Offshore oil and gas (O&G) support services provider Carimin Petroleum Bhd has teamed up with Makamin Offshore Saudi Ltd Co (MOS) and Petro Allied International DMCEST (PAI) to explore opportunities in Saudi Arabia, the Middle East, Southeast Asia and Australia.

In a statement yesterday, Carimin said its wholly-owned subsidiary Carimin Engineering Services Sdn Bhd had on April 24 signed a collaboration agreement (COA) with MOS and PAI respectively.

Under the exclusive COAs, Carimin would provide its expertise in hook-up and commissioning (HUC) services; topside major maintenance (TMM); subsea inspection, repair and maintenance services, including chartering of marine vessels; and the provision of professional manpower.

Carimin said MOS has expertise in offshore support vessel services, diving support services, manpower provision services, and offshore repair and maintenance services in Saudi Arabia, while Middle East-based PAI and its group of companies provide offshore support vessel services, offshore transportation and installation services, inshore marine services, and decommissioning and salvage services.

The three companies will collaborate to jointly bid for O&G activities, including offshore pipeline installation and replacement, engineering, procurement and construction projects, and construction of marine and port projects in Saudi Arabia, the Middle East, Southeast Asia and Australia.

Carimin managing director Mokhtar Hashim said the combination of Carimin’s HUC and TMM expertise, combined with MOS and PAI’s experience, creates a strategic alliance between leading providers to tap into the thriving opportunities in the Middle East, Australia and Southeast Asia.

He said the COA leveraged not only on the parties’ respective competencies and track records, but also to share intimate knowledge of the target regional markets.

“We are therefore optimistic that this collaboration would be a positive endeavour for us,” he said.

The parties are committed to supporting each other to be successful in the potential projects by identifying clear execution plans and promotional activities. Carimin shares closed 2.83% lower at RM1.03 yesterday, giving it a market capitalisation of RM247.91 million.

This article first appeared in The Edge Financial Daily, on April 28, 2015.