PJBumi Berhad, via its wholly-owned subsidiary PJBumi Heavy Engineering & Services Sdn Bhd (PJBumiHES), had today entered into a teaming agreement with NGL Tech Sdn Bhd (NGL Tech) to market its oil and gas technology into Indonesia.
In a Bursa listing today (Oct 31), the group said project will be utilizing NGL Tech patented technology portfolio to perform evaluate, analyse, develop (and/or) deploy technology-based solutions to restart (and/ or) to increase the oil and/or gas productions to PERTAMINA EP (subsidiary of Pertamina) oil fields and related oil fields under the purview of the Pertamina, Indonesia’s SKK MIGAS and Petroleum Sarawak Berhad (Petros).
NGL Tech, primarily provides engineering services and turnkey delivery for its proprietary technologies and process systems for the Oil & Gas and related industries.
PJBumi said the agreement grants PJBumiHES the rights to market NGL Tech’s patented technology for oil and gas technologies for Indonesian market, and marketing rights for Sarawak market.
“That is to the identified client(s) but not limited to Pertamina and all Pertamina subsidiaries and associated companies, energy, oil and gas operators under SKK Migas custodian and supervisory and other related energy based company,” it said.
PJBumiHES and/or its associated company in Malaysia and Indonesia as the prime bidder will market and conduct the project delivery and have the first right of refusal to undertake fabrication, installation and commissioning scopes pertaining to the project, upon award of a contract in related to the technology.
NGL Tech, as the patent holder is to support the prime bidder in expertise, knowledge and technology to perform the business development and marketing activities including project delivery phase upon award of the contract.
“In the event Prime Bidder is successful in the bid, Prime Bidder agrees to deliver the project’s related technology exclusively from
NGL Tech or NGL Tech PTV to the specific client,” it added.
The group said the agreement shall be effective for three years from today, with one year extension, until agreed otherwise.
