Perth-based upstream oil and gas engineering services provider, Advanced Well Technologies, has expanded its presence in South-East Asia with the launch of subsidiary company AWT (Malaysia) Sdn Bhd and the opening of an operations centre in Kuala Lumpur last week.
The company has established the centre in Malaysia to provide a base for its mature oil and gas field redevelopment projects, which it has been developing since 2003.
AWT director of Malaysia operations, Supra Ranachandran, said the company required a subsidiary in Kuala Lumpur to satisfy licence requirements of the Malaysian government’s wholly owned oil and gas corporation, PETRONAS.
Foreign oil and gas companies operating in Malaysia are required to have a joint venture partner and licences for operation, according to the country’s petroleum development legislation.
Mr Ranachandran said it was important to have a base in Malaysia to capitalise on local business opportunities.
“Malaysia represents a good opportunity to be used as a hub for South-East Asia because of the modern facilities, infrastructure and accessibility. It is an opportune place to use as a hub to export expertise and leading edge technology in the surrounding region,” he said.
“The next step will be collaboration with local partners, so we have a higher chance of being involved in local projects that come up.”
Mr Ranachandran said AWT was currently working on a portfolio of projects in the region and had been approached by several international exploration and production companies for joint venture projects in the oil and gas sector.
He said the company would develop its expertise through participating in projects that used high-tech well engineering related models and designs.
“We want to be a leading edge technology player in niche areas of well engineering and brown fields’ refurbishment,” he said.
AWT will transfer staff to the Malaysian office, as well as hiring locally. In the medium-term, the company will sponsor local university graduates in accordance with government requirements to develop local expertise.
Another oil and gas engineering specialist headquartered in Perth, AusGroup Ltd, last year entered the Asian market by purchasing a a 76.6 per cent stake in Singapore-based Cactus Engineering for $S15.3 million.
