You are here

Malaysia firm, MMC O&G Engineering, looking to expand its international business

28th March 2014

The oil and gas subsidiary of MMC Corporation bhd believes it can draw greater revenue by expanding its international services.

malaysia OTC oil and gas engineering services
The oil and gas subsidiary of MMC Corporation bhd believes it can draw greater revenue by expanding its international services.

 

MMC O&G Engineering, an engineering division of MMC Corporation, is looking to extend its role within MMC and to expand its global operations, according to an MMC executive at the Offshore Technology Conference Asia 2014 (OTC Asia 2014) in Kuala Lumpa.

The Malaysian design engineering firm currently accounts for 30 per cent of MMC’s revenue but wishes to extend this to 50 per cent by 2018.

"The company is looking to increase this contribution to 50 per cent. We are targeting to expand our business to Oman, Vietnam, Myanmar, Libya, Iraq and Brunei," said Ir Noorul Khairi Mohd Nor, MMC O&G Engineering CEO.

Revenue of the oil and gas (O&G) engineering services arm of MMC is reported to have stood at RM110m last year.

MMC O&G Engineering is looking to grow this to RM300m by 2018.

Nor is also reported to have said that the company will be looking to acquire another small and oil and gas firm by the end of the year in an attempt to raise revenue.

"Right now, our contribution is less than five per cent. We want to increase it to 10 per cent by 2018," he added.

MMC O&G Engineering's is thought to be involved in RM700 million worth of projects.

It provides engineering and design services to the oil and gas services operating mainly in Malaysia.

Ir. Noorul Khairi Mohd Nor, was chosen as the winner of MMC Group CEO of the Year 2013.

Related topics: 

Got a news tip? Email news@oilandgastechnology.net