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15th February 2017

ICON Engineering and ENRA Group form new Oilfield Services Joint Venture

ICON Engineering and ENRA Group form new Oilfield Services Joint Venture
  • Innovative offshore engineering and construction firm ICON Engineering ties up with listed ENRA Group Berhad and its highly experienced Malaysian board.

  • ENRA ICON will provide a fresh approach within Malaysia for lower cost field developments.

  • Targeting marginal fields, ENRA ICON will break the mould to deliver low cost developments and brownfield enhancements.

ICON Engineering Pty Ltd, headquartered in Perth, and Malaysian-based ENRA Group Berhad have announced the formation of a jointly owned incorporated Joint Venture, ENRA ICON Sdn Bhd, based in Kuala Lumpur, to target undeveloped Asian oil and gas fields using ICON’s range of Minimal Facility, Well Head platforms and Self-Installing Production Facilities.

ENRA ICON will harness ENRA’s local knowledge, high level networks and integrated services focus, including local fabrication, for Minimal Facilities Developments. ICON will bring its significant proprietary technology and 20+ year execution track record as the global market leader for rig-installed platforms, to significantly reduce field development costs and early production schedules in Malaysia and other regional markets.

ENRA ICON will focus on innovative solutions that will significantly reduce the total costs of most Shallow Water Field Developments:

1.                   Standardised Rig-Installable Platforms (SRIP)

2.                   Mini MOPU: Relocatable Processing Platform

3.                   Rig-Installable Annexe Platforms

ICON’s SRIP design range for Well Head Platforms provides significant reductions in EPCC cost by adopting standardisation, plus significant reductions in Offshore Installation cost by utilising relocatable suction piled foundations, rig-install options and light weight.

ENRA President & Group CEO Mazlin Junid said: “The very challenging low oil price environment presents opportunities for major oil players in Malaysia like Petronas, Hess, Repsol, Murphy, SK Energy etc to re-think and re-calibrate their minds to look for unconventional solutions for conventional problems. Our partnership with ICON Engineering is intended to bring forth to these players “out of the box” ideas which ICON has successfully proven in its 20 year track record. We are excited about the prospects of changing mindsets to be nimble and effective in order to make oil and gas production profitable again.”

ICON Managing Director David Field said: “The JV will offer a range of proven facilities designs that can significantly reduce the upfront capex and risk for Malaysian and SE Asian field developments. Partnering with ENRA provides balance sheet strength to allow leased, relocatable solutions. ENRA brings critical local content and relationships, ENRA’s team has awesome reputations and track records. ICON will add our 20+ year experience and technical know-how in successfully executing projects in Malaysia and elsewhere.”

Further Information for Editors

ENRA Group Berhad

www.Enra.my

ENRA is a Malaysian-listed, multi-faceted oil & gas service provider of specialty chemicals, minor fabrication, specialised logistics, single point mooring systems and decommissioning engineering services.  It also boasts a property portfolio in Malaysia and the United Kingdom. 

ENRA’s Chairman, Datuk Ali Bin Abdul Kadir, was formerly the Chairman of the Securities Commission of Malaysia, while Senior Independent Non-Executive Director, Tan Sri Dato' Seri Shamsul Azhar Bin Abbas, is a former President and Group Chief Executive Officer of national oil company, Petronas. He was also the Chairman of PETRONAS Carigali Sdn Bhd, the E&P arm of the giant Malaysian company. He is currently the Non-Executive Chairman of MMC Corporation Berhad.

ENRA’s President and Group CEO Mazlin Junid holds a Bachelor of Science Degree in Mechanical Engineering and a Masters in Business Administration. He was formerly Managing Director of a number of Sime Darby Group of companies, and Executive Vice Chairman of Daya Materials Bhd, another listed Malaysian Oil and Gas service provider.

Independent Non-Executive Director Dato' Wee Yiaw Hin is a civil engineer and former Executive Vice President & CEO of Upstream Business in Petronas, former Vice President at Talisman Energy Malaysia, and former Managing Director of Shell Malaysia Exploration & Production Companies.

Independent Non-Executive Director Datuk Anuar Bin Ahmad was previously the Executive Vice President of Gas and Power Business in PETRONAS and is currently an Independent Non-Executive Director of PETRONAS Dagangan Berhad.

ICON Engineering Pty Ltd

www.iconeng.com.au

ICON Engineering is an Australian oilfield service company offering consulting and contracting services to oil companies and major oilfield contractors. Formed in 1997, ICON has a long track record of providing practical construction solutions, novel equipment and innovative facilities designs aimed at reducing offshore construction cost and risk. ICON has successfully executed projects spanning the world’s major oil provinces including projects in Australia, Malaysia, Indonesia, Thailand, Vietnam, New Zealand, PNG, USA, Canada, Singapore and the UK.

ICON Managing Director David Field is a Civil Engineer and co-founder of ICON. Prior to ICON, David worked for Brown and Root Vickers in London, Saipem, Clough and WAPET (now Chevron). Like all of ICON’s Engineers he has a track record of turning engineering ideas into reality.

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