KUALA LUMPUR (Nov 8): Oil & gas service provider Barakah Offshore Petroleum Bhd is partnering Malaysia-based NazCo Engineering and Construction Sdn Bhd to jointly provide specialised tankage fabrication and installation, as well as other oil & gas services.

This is to leverage on Barakah’s core competencies in providing and carrying out onshore and offshore pipeline services, Barakah said in a bourse filing.

NazCo is a private limited engineering company that specialises in tankage fabrication and installation activities, as well as piping work and mechanical installation. It is also a CIDB-certified G7 company and a licensed Petronas vendor with experience in providing services to major clientele in the oil & gas and petrochemical industry, said Barakah.

It is also the only local company in Malaysia that has the capability for double-wall tank fabrication and installation, and has the experience and equipment to air-raise the Dome Roof, it added.

Barakah's wholly-owned PBJV Group Sdn Bhd has inked a joint venture (JV) agreement with NazCo for the collaboration, under which the parties agreed to work exclusively with each other to carry out the business venture under the JV.

Barakah Offshore closed unchanged at 9 sen per share on Monday, giving the group a market capitalisation of RM90.26 million.