Friday, October 23

MRB aims to tap into Kazakhstan’s O&G market with latest MoU

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Chin (left), and Sohphian (right) sign MoU documents between the two companies while witnessed by Daud Pengiran Putera (second left) and Bolat Imanbayey.

KUALA LUMPUR: Minetech Resources Bhd (MRB) entered into a Memorandum of Understanding (MoU) with Hadid Oil & Gas LLP (HAG) to collaboratively engage in potential business opportunities, particularly in the field of oil & gas, construction and any other sectors where both parties identified and jointly agreed to pursue, in Kazakhstan and/or in any other countries and region.

The MoU was signed by MRB executive director Matt Chin and Hadid chief executive officer Sohpian Ariffin, witnessed by Ambassador of Republic of Kazakhstan, Bolat Imanbayev and MRB executive chairman Pengiran Datuk Ts Daud Pengiran Putera.

HAG is a private company that provides comprehensive range of services in engineering, procurement, construction, and commissioning (EPCC), maintenance, repair and overhaul (MRO), and underwater services (UWS) for the energy industry in the Republic of Kazakhstan.

Chin expressed, “The onboarding of our newly-appointed Daud Pengiran Putera, has opened doors for the company to tap into the EPCC, Energy, MRO industries. He holds 40 years of experience in civil engineering, which will be a pivotal role to lead MRB into new international markets, extending our business presence as well as creating new revenue streams for the Company.

Sohpian said “After venturing in Kazakhstan for more than five years, we can say that Kazakhstan has greater opportunities to offer to Malaysian companies, especially in O&G Industry. As O&G players we consider ourselves fortunate to have such opportunity because it is known that Kazakhstan’s oil reserve is ranking in top 15 in the world.

“Kazakhstan is also known to have cheaper onshore cost production per barrel than offshore cost production that helps to maximise profit even during this pandemic phase. Apart from that, Kazakhstan is a free conflict zone country and Hadid with 15 years of experience, recognise that doing business in Kazakhstan eases regulations directly affecting our business.

“Hence, we believe this partnership will go far that ultimately will bring mutual benefits to all parties.”