Executive director Henry Kho was quoted as saying that in the future, the company would assist in EOR projects as well as the continued development of marginal fields. “There would be spin-off requirements (for offshore support vessels) because everything is offshore,” he was quoted as saying.

“All in, we would see robust requirements going forward. At the end of the day, there are opportunities for all the marine vessel suppliers for whichever niche they are in. So, they too will be expanding their fleet just because of the increase in activities,” Kho said.

The company is planning to expand its current fleet but would be cautious about buying new assets, which should be able to meet future requirements which may be more stringent. 

By the end of the second quarter of 2014, Perdana Petroleum would have 18 ships comprising anchor handling tug supply ships, workbarges and workboats. The fleet's utilisation rate stands at about 80%, but Kho foresees it improving on the back of the company’s longer-term contracts kicking in as well as positive outcomes from upcoming tenders. Perdana is currently bidding five of its vessels, and results should come in by year-end or early next year.

For the third quarter, the company posted a net profit of MYR15.5m ($4.9m), higher than the MYR15.23m the year before, while revenue fell 8.6% to MYR68.17m from MYR74.63m previously.