GERMANISCHER LLOYD SEES OPPORTUNITY IN MALAYSIA'S DEEPWATER OIL PROJECTS

By Christine Lim

KUALA LUMPUR, Nov 12 (Bernama) -- Germany-based technology and consulting
firm Germanischer Lloyd (GL) sees opportunity in deepwater oil projects in
Malaysia including the Malikai field.

It had submitted tenders to participate in some of them worth billions of
ringgit, GL Noble Denton Executive Vice President for Asia Richard Bailey told
Bernama.

GL Noble is GL's oil and gas business segment.

The Malikai field, located off Sabah, is Shell’s second deepwater
development project in Malaysia after Gumusut-Kakap. Its recoverable reserves
are estimated at more than 100 million barrels of oil equivalent.

Bailey said GL was also involved in the development of Kikeh field,
assisting in asset integrity management and risk-based inspection services.

He said some 60 offshore projects were due to come on stream in Southeast
Asia this year, mainly driven by Malaysia and Indonesia, and GL hoped to win
some of these projects.

"Malaysia is the fourth largest oil and gas deepwater hub in the world.
Offshore oil activity in Southeast Asia is set to remain high for the
foreseeable future," he said.

He said Malaysia hosts GL's regional headquarters and a key support centre
for the oil and gas industry in the Asia Pacific region.

The company recently opened a second office in Perth to support clients in
the Australian oil and gas industry, he said.

"Our biggest project in the oil and gas industry in the Asia Pacific region
is in Korea while the other growing markets are China and Australia," Bailey
said.

GL Noble Denton President John Wishart said many projects in the Asia
Pacific region relate to asset integrity management.

"With rising oil prices, we expect a high demand for consultancy and
assurance services in the oil and gas industry," he said.

He said that while demand for energy was on the increase and huge invesments
would be needed, it was of greatest importance for the industry to preserve the
global climate and to reduce greenhouse gases.

"Our focus is beyond a given project as we share client’s understanding of
a challenging commercial environment as well as legislative changes and their
concern about safe and clean energy supply," he said.

In line with the vision to be the most respected technical advisor and
trusted partner in the oil and gas industry, Wishart said GL was keen on
acquiring companies which complement its strategy for expansion in the Asia
Pacific region.

GL’s latest acquisition in Malaysia, he said, involved Trident Consultants,
a global engineering consultant which was acquired in May 2008 to strengthen the
connsultancy service offering for oil and gas clients in Malaysia.

-- BERNAMA