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Global Process Systems Inc. ("GPS") and its joint venture partner MISC Bhd have been award...
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18/10/2006
LUMUT: Perisai Petroleum Teknologi Bhd unit Alpha Perisai Sdn Bhd has signed an agreement with Dubai-based Global Process Systems Inc (GPS) to use AlphaPRIME sub-sea technology at marginal oil fields in Asean.
AlphaPRIME, developed by Britain's Alpha Thames Subsea Ltd, is a system-modular installation located close to the wells on the seabed.
Each installation consists of at least two identical operating system-modules, which contain all of the pumping and processing equipment needed for the efficient operation of the field.
Both parties would form a partnership that would combine their knowledge, skills, experience and market intelligence to win contracts for upstream oil and gas projects, said Perisai executive director Tengku Daud Shaifuddin.
"Both parties have agreed to co-operate, identify and win contracts in marginal hydrocarbon developments where AlphaPRIME is a suitable to be used," he said after the agreement signing yesterday.
Daud signed on behalf of Perisai while president Clint Elgar signed for GPS.
Daud told StarBiz the tie-up would enable the AlphaPRIME technology to be assembled in Lumut.
"Everything will be fabricated here so that it is easier to show it to clients," he said.
Elgar said in addition to fabricating the sub-sea technology, GPS would also be involved in marketing it to other countries.
"Besides Malaysia, we are looking at Indonesia, Vietnam, Thailand, Myanmar, Singapore and Brunei. It makes more sense to assemble AlphaPRIME here as it will have less impact than if it is built in Britain," he added.
Under the agreement, any project undertaken shall be on a 75:25 profit or loss-sharing basis for Alpha Perisai and GPS respectively. Funding for projects will be on the same basis as well.
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