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PT PAL to focus more on oil and gas projects than warship building
State-owned shipbuilder PT PAL Indonesia says it will increase its focus on ship and non-ship oil and gas projects, alongside its core business of building warships
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tate-owned shipbuilder PT PAL Indonesiasays it will increase its focus on ship and non-ship oil and gas projects, alongsideits core business of building warships.
In 2012 and 2013, non-ship oil and gas projects completed by PT PAL Indonesian were worth US$32.8 million. The number of projects increased by 400 percent from 2013 to May 2014 and were valued at $126 million.
PT PAL Indonesia Production Director Edy Widarto explained that the general engineering division was in the middle of developing its largest oil and gas project, which was commissioned by Husky CNOOC Madura Limited (HCML), with a total value of $126 million.
"This is the biggest non-ship order that we have received. Hopefully in the future we will be able to develop this division because it seems extremely promising," Edy told The Jakarta Post.
Edy said that the focus to develop oil and gas projects would intensify because they had high value with a relatively short work duration. In comparison, warships were also of high value but took much longer to build.
Apart from non-ship oil and gas projects, PT PAL Indonesia is also in the middle of building two tankers for PT Pertamina, worth $49.3 million, which are two of the largest tankers commissioned by a domestic shipyard. (fss)
