Petrofac PM304 Ltd retrenchment is a norm, heck its a norm for Petrofac Group worldwide to give pink slip when business is not doing good.
Petrofac E&C at Sharjah UAE is the biggest income contributor for Petrofac Group.
Petrofac-RNZ is an engineering consultancy services, inclusive E&C division as well in Malaysia.
Petrofac PM304 Ltd is (IES division) is the Upstream business arm. They just recently sailaway the East Cendor WHP from Muhibbah fab yard, bound for HUC offshore Cendor field Terengganu. Petrofac PM304 Ltd are also plan to sell their Upstream assets in Malaysia particularly for West Desaru and Cendor field, but there is no willing buyer yet. During my stint there, the commercial peoples in plan to develop East Kemasik field, not sure if lepas MR1 to MR5 gates or not, cerita lama on 2015 or 2016.
Project are still there for Petrofac PM304 Ltd, just that, _______ (fill in the blank).
Permanent roles with Petrofac? Nadai. Yilek. Semua short stint, contract basis.
Thats how it is nowadays. No more permanent staff roles. Banyak contract basis jer.
Fully agreed with you. Not many aware that the main business for petrofac is actually E&C business not operator business.
Company like RNZ has small revenue doing engineering project. 1 project few million MYR (depending on scope, etc).