Petra Energy

What Petra Energy does

PETRA Energy Berhad is a Malaysian publicly listed energy company (Bursa Malaysia: klse:PENERGY) founded in 1988 in Sarawak and headquartered in Petaling Jaya, employing 1,001-5,000 people across offices in Petaling Jaya, Miri, Labuan, Piasau, and Kemaman. The company operates three integrated business lines serving the upstream oil and gas industry: (1) Exploration, Development & Production, where it operates Block SK433 (the only onshore oil and gas block in Malaysia, located in Miri, Sarawak) and the Banang oilfield offshore Terengganu under a Late Life Asset PSC awarded in December 2024; (2) Integrated Brownfield Services, covering hook-up and commissioning (HUC), maintenance, construction and modification (MCM), equipment packaging and assembling, plus an owned fabrication yard (Labuan and Piasau); and (3) Marine Assets, comprising 8 owned and operated offshore marine vessels used for offshore support and logistics.

The company's technology is operational and asset-based rather than software-based: owned fabrication infrastructure, a marine fleet, and HSE-driven project management processes backed by five ISO certifications (9001, 14001, 45001, 27001, 37001) and a "Generative Safety Culture" framework with more than 5 million manhours without LTI achieved historically. Revenue is generated primarily through contract-based professional services and project work orders awarded by major oil and gas operators, with Petronas Carigali as the dominant anchor client (RM298M / ~$75M single contract for Bintulu Phase 2 in 2026). Secondary revenue comes from production at Block SK433 and the Banang oilfield. Customer concentration is high within the Petronas group, though recent contract wins from Vestigo Petroleum, Shell Malaysia, TotalEnergies, ENEOS Xplora, and MMHE (for the Kasawari CCS project) indicate incremental diversification. The go-to-market is exclusively direct enterprise field sales to oil and gas operators with no retail or consumer channels.

Name

Petra Energy

Legal name

PETRA Energy Berhad

Website

https://petraenergy.com.my

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PETRA Energy Berhad is a Malaysian publicly listed energy company providing integrated brownfield services — hook-up and commissioning, maintenance, construction and modification, marine support, and oil and gas production — to oil and gas operators in Malaysia, anchored by Petronas Carigali.

Ownership category

akta.pro rank

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Exploration, Development & Production: Operator of Block SK433 (onshore Miri, Sarawak) and Banang oilfield (offshore Terengganu), generating revenue from oil and gas production.
2. Integrated Brownfield Services: Contract-based services for hook-up commissioning, maintenance, construction and modification (MCM) for offshore oil and gas facilities. Revenue generated through project-based work orders.
3. Offshore Services Contracts: Major contracts awarded by oil and gas operators such as Petronas Carigali for offshore maintenance, construction, and modification projects. Example: RM298 million work order for Bintulu integrated facilities rejuvenation project Phase 2.
4. Marine Support Services: Offshore marine support services utilizing 8 owned marine vessels.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

PETRA Energy provides integrated brownfield services for the upstream oil and gas industry, including hook-up & commissioning (HUC), maintenance, construction, and modification (MCM) services for offshore and onshore oil and gas facilities. The company also operates equipment packaging, assembling, and fabrication through its owned PETRA Fabrication Yard, and delivers offshore marine support via 8 owned marine vessels. In addition, PETRA Energy operates as an oil and gas producer, holding operatorship of Block SK433 (onshore Miri, Sarawak) and the Banang oilfield (offshore Terengganu).

Product overview

PETRA Energy Berhad is a Malaysian energy company providing integrated oil and gas solutions. The company's portfolio consists of Exploration, Development & Production services (operating Block SK433 onshore Miri and the Banang oilfield offshore Terengganu), combined with Integrated Brownfield Services encompassing Hook-Up & Commissioning (HUC), Maintenance, Construction and Modification (MCM), Equipment Packaging & Assembling, and the PETRA Fabrication Yard. The company also operates a Marine Assets division owning and managing 8 offshore marine vessels. This unified offering enables PETRA Energy to provide end-to-end solutions from field appraisal through operations and maintenance.

Differentiator

Problem solved

Functional benefit

Products and services

• Exploration, Development & Production Oil and gas field solutions covering appraisal, development, production, operation, and maintenance of hydrocarbon assets. PETRA Energy operates Block SK433 (onshore Miri, Sarawak) and the Banang oilfield (offshore Terengganu) as operator. Target customers include oil and gas operators and partners in joint ventures.
• Hook-Up & Commissioning (HUC) Integrated brownfield engineering service covering hook-up and commissioning for offshore and onshore oil and gas facilities. Provided to oil and gas operators including PETRONAS Carigali and international oil companies in Malaysia.
• Maintenance, Construction and Modification (MCM) Maintenance, construction, and modification services for existing oil and gas facilities. Recent major work orders include PETRONAS Carigali's RM298 million Bintulu integrated facilities rejuvenation project Phase 2.
• Equipment Packaging & Assembling Equipment packaging and assembly services for oil and gas operations, supporting project execution and field deployment.
• PETRA Fabrication Yard Owned fabrication yard facility providing manufacturing and assembly services for oil and gas equipment and structures (including the PETRA Main Yard in Labuan and Piasau service facility in Miri).
• Marine Assets (Offshore Marine Support) Offshore marine support services with ownership and operation of 8 marine vessels supporting oil and gas operations — including platform-to-shore logistics, equipment transport, and personnel transfer for offshore facilities.

Quantifiable outcome

• RM298 million contract value from Petronas Carigali for Bintulu project Phase 2
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Vestigo PetroleumcoreStrategic or Co-development Partner · 24 April 2026Petra Energy bags offshore services contract from Vestigo Petroleum, expanding its customer base in the offshore oil and gas services sector.
• Petronas CarigalicoreStrategic or Co-development Partner · 10 April 2026Petronas Carigali, a subsidiary of Malaysia's state-owned Petronas, assigned offshore maintenance, construction, modification, and hook-up and commissioning services to Petra Resources Sdn. Bhd. (subsidiary). Petra Resources received four work orders for the Bintulu integrated facilities rejuvenation project Phase 2, valued at RM298 million ($75.07 million). Work orders cover procurement, engineering, construction, and commissioning services from December 2025 to January 2026.
• PETRONAS CarigalicoreStrategic or Co-development Partner · 5 January 2025Petra Energy receives HUC (Hook-Up & Commissioning) and MCM (Maintenance, Construction, and Modification) contracts offshore Sarawak. Multiple project awards from PETRONAS Carigali for offshore operations.
• PETRONAS (Parent Company)coreStrategic or Co-development Partner · 24 December 2024PETRONAS awarded Late Life Asset PSC to PETRA Energy for Banang Field, making PETRA Energy the operator of the Banang oilfield offshore Terengganu. This represents a significant production operatorship award.
• MMHE (Malaysia Marine and Heavy Engineering)coreStrategic or Co-development Partner · 12 May 2023PETRA Energy awarded subcontract from MMHE for Kasawari CCS project - the world's largest offshore CCS project. This partnership demonstrates PETRA Energy's capabilities in carbon capture and storage services.
• Badan Warisan Malaysia (Malaysian Heritage Trust)minorStrategic or Co-development Partner · 21 April 2022PETRA Energy in partnership with Badan Warisan Malaysia supported a webinar talk series on Sarawakian heritage and culture conservation (#TokSarawak initiative). Topics include Baram Regatta, architectural history of longhouses, ancient forts of Sarawak, and natural heritage assets. A #PETRACares sustainability initiative supporting preservation of culture and heritage.

Scale indicators6 records

Recent moves6 records

Expansion highlights10 records

Market position

Weaknesses5 records

Competitive moat5 records

Customer concentration

• LinkedInlinkedin.com/company/petra-energy-berhad
• Instagraminstagram.com/petra_energy?igsh=MTZ6ZGpwMms3MXFiNA==

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petra Energy