Dayang Enterprise Holdings Berhad has entered into a joint venture agreement with Brunei-based Petrokon Utama Sdn Bhd to strengthen its presence in Brunei’s oil and gas sector and pursue new project opportunities.
The group said its wholly owned subsidiary, signed a Joint Venture and Shareholders’ Agreement with Petrokon Utama on May 27, 2026.
The collaboration will see the parties establish a new Brunei-incorporated company, tentatively named Petrokon Dayang Corporation Sdn Bhd, with both partners holding equal 50% stakes.
The joint venture will have an initial paid-up capital of BND100,000 and is intended to participate in a maintenance, turnaround and construction project currently undergoing a competitive tender process in Brunei.
Under the agreement, Dayang will be entitled to appoint up to two directors to the board of the joint venture company, with one of its nominees serving as chairman.
The agreement will only become effective upon the fulfilment of several conditions, including the incorporation of the joint venture company and the successful award of the targeted project.
Dayang said the partnership aligns with its strategy of expanding its regional footprint and enhancing its capability to undertake maintenance, turnaround and construction activities in Brunei through collaboration with an established local industry player.
Petrokon Utama is engaged in engineering, maintenance, construction and related support services for the oil and gas sector in Brunei.
