KENCANA Petroleum Bhd is bidding for more than RM4 billion worth of projects, including that in Malaysia, India and Australia.
Group chief executive officer, Datuk Mokhzani Mahathir said Kencana which is firmly entrenched as the preferred integrated solutions and services provider for upstream oil and gas players, is also looking at projects in Indo-China.
The result of the quest for the projects, he added, will be known in a few months time.
"The chances of securing the projects is good, as we have proven to be a serious player in this industry," he told reporters after Kencana''s annual general meeting here today.
In addition to this, Kencana has also secured US$260 million worth of projects from Petronas Carigali.
Kencana is also looking at an investment of RM60 million to increase the efficiency of its fabrication yard in Lumut.
Mokhzani said that the yard in Lumut, had a capacity of 50,000 to 60,000 tonnes.
As for the outlook for next year, he said, it would be better than 2009, even Kenchana is not out of the woods yet. - Bernama
