KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) has lifted the suspension imposed on PBJV Group Sdn Bhd, a subsidiary of Barakah Offshore Petroleum Bhd
, in relation to PBJV's PETRONAS licence.
In a filing with Bursa Malaysia, Barakah Offshore said the suspension was lifted from April 6, 2023.
"Following the upliftment, any license renewal application by PBJV are subject to assessment and consideration in accordance with the PETRONAS’s Licensing & Registration requirements.
"The company will take all the necessary steps towards the license renewal," said the group.
In a July 9, 2019, filing with Bursa Malaysia, Barakah Offshore announced that PBJV's licence had been suspended by PETRONAS for a period of three years due to reported non-performance.
The group said the letter of suspension indicated there was an adverse report from PETRONAS Carigali Sdn Bhd in relation to PBJV's provision of underwater services.
"The implication of the letter is that PETRONAS including its subsidiaries and any Petroleum Arrangement Contractors will not award any new contract to PBJV during the suspension period.
"PBJV will not be allowed to bid for new projects undertaken by Petronas including its subsidiaries and any PACs during the suspension period," it said in the filing.
