Offshore staff

KUALA LUMPUR, Malaysia -- Petra Energy Bhd. is selecting a partner to venture into the Middle East brownfield development projects.

Launching shares on the Kuala Lumpur exchange on July 26, Ibrahim Petra, executive chairman, said Petra is venturing into the Middle East region while pursuing work on some of the more than 600 platforms beyond 20 years of age that are being rejuvenated in Southeast Asia.

Petra also is bidding for more work in Malaysia where 150 aging platforms are being revamped and retrofitting to continue oil and gas production, Ibrahim said. He believes Malaysian business potential will be nearly $2 billion over the next six years.

Petra has $550 million worth of projects in hand providing integrated brownfield services offshore Malaysia.

7/27/2007

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