Malaysian joint venture allowed back into upstream sector
Australia’s WorleyParsons said the suspended licence of its Malaysian joint venture has now been reinstated, allowing it to conduct upstream activities in the country.
Local media revealed on Wednesday that state regulator Petronas had issued a licence suspension to Ranhill Worley, an engineering company jointly owned by WorleyParsons and Ranhill Energy and Resources.
This effectively banned the company from working in both the upstream and downstream sectors of Malaysia as of 17 July, including participating in any new or ongoing Petronas tenders.
In an emailed statement to Upstream on Thursday, WorleyParsons said resolution had now been achieved with Petronas, providing for the reinstatement of the licence.
However, the reinstatement will only permit Ranhill Worley from conducting upstream activities.
A WorleyParsons spokesperson confirmed on Thursday that the downstream suspension was still in place, although added that “this represents a very small part of the business”.
Local reports suggested the suspension was related to work undertaken on Petronas’ Melaka regasification project, which suffered delays and other issues. However, this has not been confirmed.
yes, PRW's license suspension for upstream biz has been lifted. but the suspension on downstream biz is still being enforced.
its' a relief to all PSC operators since they want competitive bids from all the engineering companies. PRW is at par with Technip and Aker, as far as upstream engineering is concerned.