Ocean Vantage Holdings Berhad has secured a major regulatory milestone after two of its wholly-owned subsidiaries were appointed as panel contractors under Petroliam Nasional Berhad’s (PETRONAS) Pan Malaysia Integrated Well Continuity Services (IWCS) framework.
OVH announced that Ocean Vantage Engineering Sdn. Bhd and Ocean Vantage Inspection Testing Sdn. Bhd accepted their respective letters of appointment from PETRONAS on July 10, 2026, following formal approval for the release of the announcement granted by PETRONAS on August 13, 2026.
The IWCS framework is a Pan Malaysia panel contractor arrangement designed to provide comprehensive well continuity services covering intervention, workover, and abandonment activities. The program is structured to be shared and utilised by all 17 Petroleum Arrangement Contractors (PACs) operating within Malaysia.
The appointment operates on an umbrella/panel basis over a three-year tenure running from July 10, 2026, to October 9, 2029, unless extended, renewed, or terminated earlier.
Because the framework functions on a panel basis, no fixed contract sum has been designated. Work orders and their values will be awarded progressively via mini-competitions or mini-bids conducted by individual PACs based on operational needs.
