KUALA LUMPUR (March 30): Petronas Carigali Sdn Bhd (PCSB) had on Wednesday (March 30) announced the completion of the transaction for the transfer of PCSB's entire ownership in E&P O&M Services Sdn Bhd (EPOMS) to Janamurni Sdn Bhd for an undisclosed value following Petronas’ continuous review of its business portfolio.

PCSB is the upstream arm of Malaysian national oil company Petronas, while a check on CTOS revealed that Janamurni is 70% owned by Saujana Marine Sdn Bhd, with the remaining 30% held by Touch Group Holdings Sdn Bhd.

In a statement, Petronas said EPOMS is wholly owned by E&P Venture Solutions Co Sdn Bhd (EPVS), a subsidiary of PCSB.

"Incorporated in 2012, EPOMS provides integrated frontline operations and maintenance services for all floating facilities, including associated flowlines and pipelines in Malaysia.

"EPVS signed the sale and purchase agreement on Dec 29, 2021 with Janamurni, which includes the transfer of all EPOMS staff’s employment contracts to the new owner.

"The exercise follows Petronas’ continuous review of its business portfolio to ensure a better fit in its growth strategy in the increasingly evolving energy landscape,” Petronas said.

Petronas said it remains focused on maintaining a robust business portfolio with a healthy and sustainable risk and return profile as it expands into non-traditional businesses, including new energy and renewables, to improve the company’s low carbon profile and advance its sustainability agenda.