PETRONAS currently has 46 brownfield and 25 greenfield projects sanctioned for execution against the total disclosure of 90 brownfield and 42 greenfield projects for 2021.足球投注app（www.hg8080.vip）是皇冠体育官网线上直营平台。足球投注app面向亚太地区招募代理，开放皇冠信用网代理申请、皇冠现金网代理会员开户等业务。足球投注app可下载皇冠官方APP，皇冠APP包括皇冠体育最新代理登录线路、皇冠体育最新会员登录线路。
PETALING JAYA: RHB Research is maintaining an overall positive outlook on the local oil and gas (O&G) sector, especially on a number of selected segments.
This was in resonance with the Activity Outlook 2023-2025 report that was released by industry giant Petroliam Nasional Bhd (PETRONAS) earlier this week.
With PETRONAS forecasting higher activities in 2023 for the drilling, hydraulic workover unit (HWU), fixed-structure fabrications, offshore support vessel (OSV) supporting drilling and projects, hook-up and commissioning as well as for the maintenance, construction and modification segments, the research outfit is hopeful for brighter years for upstream maintenance-related players.
RHB Research analyst Sean Lim said some companies that investors could be looking out for are Dayang Enterprise Holdings Bhd, Carimin Petroleum Bhd, Petra Energy Bhd and Velesto Energy Bhd.
He added that the higher OSV demand in 2023 will also benefit OSV players such as Perdana Petroleum Bhd and Icon Offshore Bhd.
“What caught us by surprise was the sharp reduction in well decommissioning projections, which may not bode well for Uzma Bhd.,
“One possible explanation could be that PETRONAS is looking to extend the life of the wells in order to leverage current high oil prices.
“This may eventually benefit Uzma as the company also focuses on brownfield rejuvenation,” Lim noted.
RHB Research said that post-2024 medium-term prospects for the drilling segment should remain positive, which could enhance contract visibility in the longer run.
As such, it expects the overall rig utilisation to improve for Velesto, the largest local player, as it will still be in the priority lane for contract renewals, while higher HWU utilisation could benefit Velesto and Uzma.
With the number of development projects reduced in 2022 compared to last year, RHB Research said the drop came from all different stages including field development plans sanctioned for execution for both greenfield and brownfield projects.
PETRONAS currently has 46 brownfield and 25 greenfield projects sanctioned for execution against the total disclosure of 90 brownfield and 42 greenfield projects for 2021.,