Perisai Petroleum Teknologi Bhd is expected to focus on production and drilling going forward, says HwangDBS Vickers Research Sdn Bhd.
The research firm said Perisai Petroleum's flagship mobile offshore production unit (MOPU) for Petronas Carigali is under long-term contract until Sept 13, which may be extended by a year.
"Securing contracts for its MOPU upon expiry should not be an issue, given the MOPU's versatility, mobility and relatively lower operating costs," it said in a research note today.
HwangDBS also said that Perisai Petroleum may be able to participate in EOC Ltd's floating production, storage and offloading project at Petronas-Hess' US$5.2 billion North Malay Basin development.
"Under the project, gas floater Lewek Arunothai will undergo modification to meet the first gas production timeline in the first quarter next year," it said.
