GAC Awarded Petronas License

Transport Services Across Malaysia

Malaysian authorities have awarded a contract to logistics firm GAC to provide breakbulk transport services on behalf of national oil firm Petroliam Nasional Berhad, or Petronas.

The license award covers bunkering, freight forwarding, shipping and non-bonded warehousing services for upstream and downstream activities of the Petronas Group.

“With this license, we are now open to more opportunities, and can provide support to Petronas projects, as well as projects by its joint venture partners for offshore blocks and their multinational vendors, some of whom are already GAC’s customers in other parts of the world,” said Mike Camara, GAC Malaysia’s managing director.

Gas Sector Opportunities

GAC operates 11 offices in Malaysia including one in Labuan, the country’s main oil and gas supply base, one at Kemaman Supply Base and one in Bintulu.
“As the world’s third-largest LNG exporter and the second-largest oil and natural gas producer in Southeast Asia, Malaysia’s regional oil and gas hub status is the source of growing business opportunities in both the upstream and downstream sectors,” Camara added.

Dubai-based logistics group, GAC delivers project logistics, breakbulk handling and ancillary logistics support via more than 250 offices worldwide.

Exports Rise

In August, China’s crude oil imports from Malaysia hit near record levels in July, according to customs data, with crude exports from Malaysia reaching 1.35 million tonnes.

Industry analysts forecast that Malaysia offers some of the most material and attractive upstream investment opportunities in Southeast Asia, driving demand for breakbulk across the tropical country.

"We expect Petronas to ramp up its own exploration efforts, particularly in deepwater Sarawak, to prove up easier-to-develop resources. It will also invest in new technology to develop some of the more challenging accumulations … This is a golden opportunity for upstream players," said Angus Rodger, upstream research director at Wood Mackenzie.