ID :
195021
Thu, 07/14/2011 - 12:31
Auther :
Shortlink :
https://oananews.org//node/195021
The shortlink copeid
SCHLUMBERGER PRJOECTS STRONGER REVENUE GROWTH FROM ASIA
KUALA LUMPUR, July 14 (Bernama)-- Schlumberger Ltd, a Fortune 500 company specialising in oilfield services, is projecting stronger revenue growth from Asia following an investment of RM100 million (US$33.28 million) for a manufacturing facility in northern state of Penang.
The WesternGeco Penang Product Centre (WPPC) facility was recently opened to support global demand for geophysical services, dedicated to the manufacturing and support of state-of-the-art marine and land seismic equipment.
By end-2012, the WPPC will employ approximately 400 people, combining local talent and international expertise.
Chairman of Schlumberger Asia, Jamal A. Ainul said the Penang facility plays a key role in supporting its biggest client in Asia,Petronas, as well as expanding the company's footprint on the continent.
"To date, Asia is the smallest in terms of revenue compared to the
contributions from traditional markets in the Middle East and North
America.
"However, we see growing potential from Asia," Jamal told Bernama in a recent interview.
He said opportunities are now to be found in new frontiers, in tough and challenging places, where sophisticated and innovative technologies are required, to find new sources of oil and gas.
"Demand for oil and gas will grow, especially with the tsunami disaster in Japan, as it raised concerns over the danger of nuclear power as a source of energy," he added.
Jamal said it is important for a technology company like Schlumberger, to be prepared to invest time and money in future opportunities in the oil and gas industry.
In this respect, he added, Penang with its strategic location and good infrastructure, universities and the presence of an electronics industry, will be an important base for Schlumberger’s expansion in Asia.
"We are looking at expanding beyond manufacturing and support of seismic equipment in Penang," he said.
He said discussions are now ongoing with relevant parties to find a suitable piece of land in Penang for expansion.
"We are committed to our investment in Malaysia, with the country being an important hub for manufacturing and state-of-the-art services," he added.
Jamal said Malaysia is also an important processing centre for
Schlumberger’s financial transactions in Asia and the Middle East.
"We have two financial processing centres, one located in Europe
and the other at in Bandar Utama, Petaling Jaya," he added.
Schlumberger’s other facilities in Asia are located in Japan which has manufacturing and research centres and a smaller facility in Shanghai, China, as well as a few simple manufacturing centres in Singapore.
Schlumberger has been in Malaysia since 1935 and has been working with local as well as multinational players in the oil and gas industry.
Jamal said the company, the world's largest oilfield services entity and listed on the New York Stock Exchange, is keen on partnering with local players who can complement its expertise and skill in the oil and gas industry.
The WesternGeco Penang Product Centre (WPPC) facility was recently opened to support global demand for geophysical services, dedicated to the manufacturing and support of state-of-the-art marine and land seismic equipment.
By end-2012, the WPPC will employ approximately 400 people, combining local talent and international expertise.
Chairman of Schlumberger Asia, Jamal A. Ainul said the Penang facility plays a key role in supporting its biggest client in Asia,Petronas, as well as expanding the company's footprint on the continent.
"To date, Asia is the smallest in terms of revenue compared to the
contributions from traditional markets in the Middle East and North
America.
"However, we see growing potential from Asia," Jamal told Bernama in a recent interview.
He said opportunities are now to be found in new frontiers, in tough and challenging places, where sophisticated and innovative technologies are required, to find new sources of oil and gas.
"Demand for oil and gas will grow, especially with the tsunami disaster in Japan, as it raised concerns over the danger of nuclear power as a source of energy," he added.
Jamal said it is important for a technology company like Schlumberger, to be prepared to invest time and money in future opportunities in the oil and gas industry.
In this respect, he added, Penang with its strategic location and good infrastructure, universities and the presence of an electronics industry, will be an important base for Schlumberger’s expansion in Asia.
"We are looking at expanding beyond manufacturing and support of seismic equipment in Penang," he said.
He said discussions are now ongoing with relevant parties to find a suitable piece of land in Penang for expansion.
"We are committed to our investment in Malaysia, with the country being an important hub for manufacturing and state-of-the-art services," he added.
Jamal said Malaysia is also an important processing centre for
Schlumberger’s financial transactions in Asia and the Middle East.
"We have two financial processing centres, one located in Europe
and the other at in Bandar Utama, Petaling Jaya," he added.
Schlumberger’s other facilities in Asia are located in Japan which has manufacturing and research centres and a smaller facility in Shanghai, China, as well as a few simple manufacturing centres in Singapore.
Schlumberger has been in Malaysia since 1935 and has been working with local as well as multinational players in the oil and gas industry.
Jamal said the company, the world's largest oilfield services entity and listed on the New York Stock Exchange, is keen on partnering with local players who can complement its expertise and skill in the oil and gas industry.
