Vietnam, Malaysia marine firms partner up to serve oil-gas sector in Malaysia

A joint venture has been established between Vietnam’s Hai Duong Petroleum and Marine Corporation (Haduco) and Malaysia’s RMS Synergy Sdn Bhd to offer shipping services to oil and gas contractors in Malaysia.

The agreement signed on Thursday to form Haduco RMS Sdn Bhd stipulates that Haduco, a provider of marine services to the oil and gas industry, will hold a 49% stake in the joint venture; while RMS Energy, a leading oil and gas offshore marine support provider, will own the majority 51%.

Haduco, which boasts a fleet of over 40 offshore vessels, will cater for service needs in the oil and gas exploration and exploitation sector. RMS Synergy will contribute services related to crew members, logistics, and trade.

RMS Synergy highlighted the target of meeting the demand for vessels from Malaysia’s national oil and gas company Petronas, which has indicated a need for 204 vessels for drilling and 147 for production operations in 2023.

Initially, RMS Synergy has secured a long-term charter of an anchor handling tug supply (AHTS) vessel and will collaborate with the Vietnamese firm to capitalize on the demand for offshore support vessels (OSV).

Haduco, founded in 2000, accounts for 75% of the ships serving oil and gas activities in Vietnam, and is expanding its presence in foreign markets, including Myanmar, Malaysia, Thailand, India, Japan, and Russia.