Opportunities abound for oil and gas service providers

Good prospects: MMHE’s West Yard at Pasir Gudang, Johor. The firm is well-positioned to secure the Limbayong floating production, storage and offloading topside fabrication and hull conversion works due to the project’s high local content requirement.

THE recovery in the oil and gas (O&G) sector will be slow and gradual, and uncertainties still linger on the supply side.

A Kenanga Research report says it has retained its 2021 average Brent crude price assumption of US$50 per barrel, and opines that sustained Organisation of Petroleum Exporting Countries (Opec) production cuts are imperative to prolonging oil price’s stability.