Nature of Business

Petra Energy Berhad is a Malaysia-based investment holding company.

• • The Company operates through three segments: Services, Marine Assets, and Development and Production.
  • The Services segment provides services, such as Hook-up Commissioning, Topside Major Maintenance, vessel management and time chartering, fabrication, subsea and underwater, as well as trading and engineering services.
  • The Marine Assets segment comprises subsidiaries which own the Group’s marine assets and hold license to carry on the leasing business.
  • The segment’s major business activity is bareboat chartering of vessels internally within the Company and to third party vessel management companies.
  • The Development & Production segment covers the Company’s business activities in relation to rejuvenation of matured fields, as well as small and marginal field development and production.
  • This involves the Inaugural Petroleum Contract for onshore Block SK433 in Miri for Petroleum Sarawak (PETROS).