Offshore staff

KUALA LUMPUR, Malaysia -- Tanjung Offshore Bhd. is scheduled to take delivery of two new Straight Supply Vessels (SSVs) before the end of 4Q 2006. The company recently took delivery of two SSVs, the MV Tanjung Pinang 1, chartered in August, and the MV Tanjung Pinang 2, chartered in October.

At the end of September, Tanjung was operating five SSVs offshore Malaysia. The company registered a new entity, Tanjung-ETC Engineering Sdn. Bhd. on Nov. 3, 2006, to design, manufacture, and supply of all types of cathodic protection equipment, parts and related services.

Tanjung made a net profit of $3.3 million for the nine months ended Sept. 30, 2006.

Tanjung Chairman Syed Ali Alhabshee attributed the improvement to completion of various engineering equipment contracts, such as the supply of gas turbine spares, compressors, and process systems.

The ongoing charter of offshore support vessels, MVTanjung Jaa, MV Tanjung Huma, MV Tanjung Manis, and MV Tanjung Pinang 1, also contributed to the company's growth. Alhabshee said the mobile offshore production unit began full-scale operations at the Cendor oilfield, off the coast of Terengganu in mid-August and is expected to contribute positively in the future.

11-20-06