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Petra Energy and Dayang comparison - Koon Yew Yin

Koon Yew Yin
Publish date: Fri, 06 Jan 2023, 11:46 AM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.

All materials published here are prepared by Mr. Koon Yew Yin

Petra Energy Bhd is an investment holding company which provides a range of integrated brownfield services for the upstream oil and gas industry in Malaysia. It operates through Services, Marine Assets, and Production and Development and Production segments. The company offers services in construction commissioning and maintenance, engineering, operations and maintenance, oil field optimization, retrofits, domestic vessels re-charter, geophysical, design, and fabrication of process equipment; and packaging and supply of engineered equipment, as well as project management, procurement, and logistic services.

Last traded price 89 sen. Latest EPS 7.57 sen for quarter ending Sept 2022

Dayang Enterprise Holdings Bhd is an investment holding company. The company provides offshore topside maintenance services, minor fabrication works and offshore hook-up and commissioning services for oil and gas companies. It also offers chartering of marine vessels, and equipment hire operation. Its operating segments include Topside maintenance services, Marine charter and catering income, Equipment hire and Investment holding. Dayang generates most of its revenues from Topside maintenance services.

Last traded price Rm 1.30. Latest EPS 4.57 sen for quarter ending Sept 2022.  

Both companies are providing similar kind of services to   Petronas and Sarawak Oil Company which will not stop pumping oil even if oil price drops and they will continue to have work to make money.

By comparison Petra Energy should be a better stock to buy.  

This announcement is dated 18 June 2021

Sarawak’s State-owned Oil & Gas Company, Petroleum Sarawak Bhd gave a long term contract of 29 years. Phase 1 of the Contract is for an initial four (4) years with an option to extend for another year. Upon successful outcome of Phase 1, the subsequent Phase 2 will involve the development and production activities.

This announcement is dated 9 Dec 2022

Petra Energy has been awarded a contract amendment and extension for the Provision of Offshore Maintenance, Construction and Modification (MCM) Services from PETRONAS Carigali Sdn Bhd.

The value of the Contract is based on work orders issued by PCSB throughout the extended contract duration effective from 20 September 2022 until 31 December 2023.

Petra Energy is sure to make profit because the work orders are based on cost plus.

The announcement is dated 3 January 2023

Petra Energy had entered into a Supplementary Agreement with Petroliam Nasional Berhad (“PETRONAS”) relating to the Production, Operation and Maintenance of the Banang Field Technical Service Agreement (“Contract”) with effect from 29 September 2022 for a period of twenty-two (22) months until 6 August 2024.

The duration of the Contract is for the period of twenty-two (22) months from 29 September 2022 to 6 August 2024.

The Contract is expected to contribute positively to the earnings and net assets per share of PEB Group for the duration of the Contract.


This is a photo of an oil rig

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