The Sparrows Group is delighted to announce our expansion into the Malaysian oil and gas market after forming a strategic partnership with a local service provider in the region, Efficient Technology Sdn Bhd (Eftech), as part of our plans to treble business in Asia Pacific over the next five years.
As part of the country-wide agreement, we will offer services such as offshore crane maintenance, crane hire, fluid power, inspection and cable and pipe lay products which are in particularly high demand in the region.
We already work with a number of drilling companies in Malaysia however we expect that our agreement with Eftech will enable this to increase significantly.
Stewart Mitchell, chief executive officer at Sparrows Group, said: “We see Asia Pacific as a key growth area for Sparrows Group in the coming years. Malaysia’s oil reserves are the fourth highest in Asia Pacific and by partnering with a well-respected local company that shares our commitment to assure delivery to clients, such as Eftech, we believe we are on the right track to realising our aims.
“In many ways a partnership with Eftech is a perfect fit as we complement each other’s strengths. Eftech is an established provider of process and pipeline services, combined with our in-depth knowledge of lifting and handling, fluid power and cable and pipe lay we will provide operators with an integrated specialist service of the highest standard.”
At present we employ over 120 people in Asia Pacific and over 2,100 globally. We currently have bases in Singapore, Myanmar, Australia, China and two in Indonesia in Asia Pacific.
Malaysian regulations stipulate all offshore service activity for Petronas, the state’s national oil and gas company, should be carried out through a local company.
The agreement with Eftech, which was founded in 2002, will allow us to provide our services across Malaysia’s three producing offshore basins. At present there are more than 130 offshore operating platforms in Malaysia and over 30 drilling rigs.
Dato’ Mahathir Samat, managing director of Eftech said: “Our partnership with Sparrows Group and their considerable track record in crane maintenance services has been integral to us being awarded a licence for this type of work by Petronas. There is a demand in our local market for the level of service we can bring through our partnership which I am sure will bring many benefits to the Malaysian offshore sector.”