PETALING JAYA: While maintenance activities in the local oil and gas space are set to increase in the next two years, cost pressures will remain, said UOB Kay Hian Research.

The research house reiterated its “market weight” stance on the sector, noting that its sector theme was to focus on internationally competitive companies.

Petroliam Nasional Bhd (Petronas) recently released its latest multi-year activity outlook (PAO), in which it indicated a notable increase in local upstream requirements in the 2019-2020 work scope for jackup rigs, offshore support vessels (OSV) and maintenance, construction and modification (MCM) works.

...

Full Article on TheStar