OIL & GAS
 [%ZCKK%] [%WReZ%] [%CEbG%] 
Research by AMMB
Overweight (Maintained)

"Potential for better setting from Brazil FPSO supply side woes"

Another punch to the gut for Petrobras as floater companies continues to shy away. Brazil’s national oil and gas company announced that it has pushed back the submission date by as much as 4 months for proposals of 3 key floating production storage and offloading (FPSO) tenders: SEAP-1 and SEAP-2 for the Sergipe-Alagoas tender as well as the Barracuda-Catinga field. This is the third delay since our report (Tender Submission Delayed for Sergipe-Alagoas Basin Floaters) back in October 2023. The rationale for the delay is to improve bidding rules to enhance the commercial viability of the projects.

Analyst(s):
Muhammad Nuur Ashman
[%eIUt%]

OIL & GAS
 $KLSE-YINSON $KLSE-MHB $KLSE-MISC 
Research by AMMB
Overweight (Maintained)

"Potential for better setting from Brazil FPSO supply side woes"

Another punch to the gut for Petrobras as floater companies continues to shy away. Brazil’s national oil and gas company announced that it has pushed back the submission date by as much as 4 months for proposals of 3 key floating production storage and offloading (FPSO) tenders: SEAP-1 and SEAP-2 for the Sergipe-Alagoas tender as well as the Barracuda-Catinga field. This is the third delay since our report (Tender Submission Delayed for Sergipe-Alagoas Basin Floaters) back in October 2023. The rationale for the delay is to improve bidding rules to enhance the commercial viability of the projects.

Analyst(s):
Muhammad Nuur Ashman
muhammad-nuur-ashman.a@ambankgroup.com

$MHB / 5186 (MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD)