CARIMIN

What CARIMIN does

Carimin Petroleum Berhad is a Malaysia-domiciled, Bursa Malaysia Main Market-listed (Stock Code: 5257, IPO November 2014) integrated oil and gas services contractor headquartered in Kuala Lumpur. The company delivers onshore and offshore major maintenance, hook-up and commissioning (HUC), engineering-procurement-fabrication-construction (EPCC), subsea inspection/repair/maintenance (IRM), marine support, manpower supply, equipment rental, and general civil works to upstream and midstream operators, principally in Malaysia. Technical assets are owned and operated in-house: an Anchor Handling Tug Supply vessel (Carimin Airis), Accommodation Work Boat (Carimin Acacia, divested August 2025), Fast Crew Boat (Carimin Aster), and fabrication yards in Kemaman, Terengganu and Labuan that support onshore prefabrication and EPCC. Services are delivered through wholly-owned subsidiaries Carimin Engineering Services, Carimin Equipment Management, Carimin Marine Services, Carimin Bina, and Carimin Subsea, plus a 14% stake in Synergy Kenyalang Offshore.

The company's go-to-market is direct B2B tendering to upstream oil and gas operators — primarily PETRONAS Carigali and PETRONAS Gas, with additional relationships across Shell, Murphy Oil, Hess, ExxonMobil, Repsol, SEA Hibiscus, CPOC, Lundin, SapuraOMV, and Petrofac. Contracts are multi-year service agreements covering routine maintenance, turnarounds, hook-up and commissioning, and vessel charter. Pricing is not publicly disclosed and is negotiated per tender. CARIMIN holds PETRONAS licensing across Products & Services, Marine Vessels, and Underwater Inspection, along with ISO 9001:2015, CIDB G7, MOF, and DOSH certifications — collectively functioning as gating credentials to participate in Malaysian upstream work.

Customer base is concentrated: PETRONAS group entities dominate the contract portfolio, with Shell and Hess representing recent diversification. Revenue is contract-driven and indexed to Malaysian upstream capex cycles. The company has accumulated over RM2.0 billion in completed project value since inception and reports 26.6 million safe manhours without LTI since 2010 (as of September 2025), supporting an HSE reputation that has won repeated recognition from PETRONAS, ExxonMobil, and Hibiscus Petroleum. CARIMIN does not disclose productized AI/ML or software capabilities; competitive positioning rests on regulatory licensing, owned marine and fabrication assets, integrated service breadth, and an HSE track record rather than technology differentiation.

Name

CARIMIN

Legal name

Carimin Petroleum Berhad

Website

https://carimin.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Carimin Petroleum Berhad is a Bursa Malaysia-listed integrated oil and gas services contractor delivering maintenance, hook-up and commissioning, EPCC, subsea IRM, marine support, and manpower services — primarily to PETRONAS, Shell, and other upstream operators in Malaysia.

Ownership category

akta.pro rank

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices3 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. Maintenance and Hook-Up & Commissioning Services: Core revenue stream from providing onshore and offshore major maintenance, hook-up and commissioning services to oil and gas operators. Services include planned preventive maintenance, repair services, offshore turnarounds, and commissioning support. Revenue is generated through multi-year contracts with major oil and gas companies.
2. Fabrication and Construction: Engineering, procurement, fabrication, and construction (EPCC) services for oil and gas facilities, including electrical and instrumentation works. Fabrication facilities in Kemaman and Labuan handle onshore prefabrication and fabrication works. Also includes onshore pipeline construction and civil works through subsidiary Carimin Bina Sdn Bhd.
3. Marine Support Services: Provision of marine vessels including work barges, accommodation vessels, fast crew boats, and anchor handling tug supply vessels (AHTS) for offshore operations. Revenue generated through vessel charter and marine spread services.
4. Manpower Supply: Provision of trained, highly-skilled, and experienced personnel for oil and gas projects. As pioneers in the manpower supply business, CARIMIN provides personnel capable of executing and implementing a wide range of services and systems.
5. Equipment Rental and Maintenance: Supply, rental, and maintenance services for industry equipment including power generators, air compressors, pumps, and other oil and gas construction equipment.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Carimin Petroleum Berhad is an integrated oil and gas services provider delivering onshore and offshore major maintenance, hook-up and commissioning, EPCC (engineering, procurement, fabrication, and construction), manpower supply, marine support, subsea inspection/repair/maintenance (IRM), onshore pipeline services, equipment rental, and general civil works to upstream and midstream oil and gas operators in Malaysia. Services are delivered through owned fabrication yards in Kemaman and Labuan and a fleet of owned marine vessels (AHTS, AWB, FCB).

Product overview

CARIMIN Petroleum Berhad offers an integrated suite of services for the Malaysian Oil & Gas industry, comprising Hook-up & Commissioning, Planned Maintenance and Repair, Engineering/Procurement/Fabrication/Construction (EPCC), Manpower Supply, Marine Support Services, Onshore Pipeline Services, Specialist Subsea Services, Equipment Rental & Maintenance, and General Civil Works. The company also owns a fleet of marine support vessels including CARIMIN Airis (AHTS), CARIMIN Acacia (AWB), and CARIMIN Aster (FCB). These services are delivered through the parent company and subsidiaries including Carimin Engineering Services Sdn. Bhd., Carimin Equipment Management Sdn. Bhd., Carimin Marine Services Sdn. Bhd., Carimin Bina Sdn. Bhd., and Carimin Subsea Sdn. Bhd.

Differentiator

Problem solved

Functional benefit

Products and services

• Facilities Installation and Hook-up & Commissioning Services Specialized facilities installation and comprehensive hook-up and commissioning services for oil and gas projects, including onshore prefabrication, offshore hook-up and tie-ins, commissioning of mechanical, electrical, and instrumentation & control systems, blasting and painting works. Serves upstream oil and gas operators in Malaysia.
• Planned Maintenance and Repair Services Planned or preventive maintenance and repair services for oil and gas projects, primarily for offshore facilities. Includes structural and piping works, equipment maintenance and repair, blasting and painting maintenance, and offshore turnarounds. Targets offshore oil and gas operators.
• Engineering, Procurement, Fabrication, and Construction (EPCC) Engineering, procurement, fabrication, and construction services for oil and gas facilities including electrical and instrumentation works, delivered through fully equipped fabrication facilities in Kemaman, Terengganu and Labuan for onshore prefabrication. First EPCIC contract secured from ROC Oil Sarawak in 2016.
• Manpower Supply Services Pioneer provider of trained, highly-skilled, and experienced personnel for oil and gas operations, capable of executing and implementing a wide range of services and systems. Supplies drilling professionals, technical staff, and project execution personnel to oil and gas operators.
• Marine Support Services Comprehensive marine services including vessel charter, offshore transportation, accommodation, and catering services for project teams and support vessels, supported by an owned fleet comprising the Anchor Handling Tug Supply (AHTS) vessel CARIMIN Airis, Accommodation Work Boat (AWB) CARIMIN Acacia, and Fast Crew Boat (FCB) CARIMIN Aster.
• Onshore Pipeline Services Comprehensive onshore pipeline services including installation, maintenance, repair, replacement, modification, and removal of pipelines, ensuring safe, efficient, and reliable pipeline operations for midstream gas pipeline operators.
• Specialist Subsea Services Specialist subsea services for the oil and gas sector including project management, skilled manpower, marine spread services such as ROVs and diving support vessels, and specialized subsea equipment and systems for underwater inspection, repair, and maintenance (IRM) works.
• Equipment Rental & Maintenance Supply, rental, and maintenance services for industry equipment including power generators, air compressors, pumps, and other oil and gas construction equipment, delivered through subsidiary Carimin Equipment Management Sdn. Bhd.
• General Civil Works Services General civil works services including infrastructure works and niche areas, delivered through subsidiary Carimin Bina Sdn. Bhd. to oil and gas operators and infrastructure clients.

Quantifiable outcome

• 26,593,839 safe manhours without LTI since 2010 (as of 30th September 2025)
• +3 more outcomes

Named customers16 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Makamin Offshore SaudiminorStrategic or Co-development Partner · 27 April 2015Partnership to tap into Middle East and South East Asia markets for offshore services.
• Petro Allied InternationalminorStrategic or Co-development Partner · 27 April 2015Partnership to tap into Middle East and South East Asia markets for offshore services.
• Bermuda SubseaminorStrategic or Co-development Partner · 20 November 2014Exclusive collaboration entered in November 2014 for subsea services, marking CARIMIN's strategic entry into the subsea services market.
• Emas Energy Services (Thailand) LimitedminorStrategic or Co-development PartnerCollaboration to pursue tender bids involving decommissioning and well plug and abandonment services.
• I Drill Pipelines Constructions Sdn. Bhd.coreStrategic or Co-development PartnerJoint venture formed to pursue EPCC projects, including the award of gas pipeline extension and metering station project for PETRONAS Gas Bhd. (Nine Dragon Paper/Bougainvillea Project).
• DOF Subsea Asia Pacific Pte LtdminorChannel Partner/ Reseller/ DistributorPartnership to promote and market vessel assets, Work class ROV and associated services of DOF in Malaysia.
• Synergy Kenyalang Offshore Sdn. Bhd.minorOthersCARIMIN acquired 14% equity stake in Synergy Kenyalang Offshore Sdn. Bhd., which owns SK Deep Sea, an Accommodation Work Boat, enabling CARIMIN's entry into offshore marine support vessel services.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Petra Energy Berhad: Malaysian integrated oil and gas services company offering EPCC, maintenance, marine support, and manpower services. Comparable in service breadth and Malaysian upstream market focus.
• Dialog Group Berhad: Malaysian oil and gas services group with upstream maintenance, EPCC, tank terminal, and plant maintenance operations. Comparable in integrated services model and PETRONAS client relationships.
• Serba Dinamik Holdings (under restructuring): Malaysian oil and gas services peer with operations & maintenance, EPCC, and manpower supply across Malaysia and Indonesia. Same vertical and customer base as CARIMIN.
• Dayang Enterprise Holdings Bhd: Malaysian offshore oil and gas services peer providing hook-up & commissioning, topside maintenance, marine vessel charter, and EPCC services to PETRONAS and other operators. Highly comparable in scope, customer base, and integrated marine/service model.
• Ezra Holdings / EMAS (now restructured): Former Asian offshore EPCC and subsea services group with significant Malaysian and Southeast Asia presence. Comparable in subsea IRM and offshore EPCC scope, though now restructured.
• Keyfield International Berhad: Malaysian offshore marine support vessel company that acquired CARIMIN's Acacia AWB in 2025. Directly comparable in marine vessel services for Malaysian offshore oil and gas operators.

Regional players

• Velesto Energy Berhad: Malaysian offshore drilling and oilfield services company with jack-up rig operations. Adjacent peer with shared Malaysian upstream customer base but different core service (drilling vs. maintenance/HUC).
• DOF Subsea Asia Pacific: Norwegian-headquartered subsea services company with Asia Pacific operations, partnered with CARIMIN for ROV and vessel services in Malaysia. Comparable through subsea IRM services.

Broad incumbents

• MISC Berhad: Malaysian global maritime and offshore vessel owner/operator. Comparable through offshore vessel charter and offshore support services to oil and gas operators, though significantly larger and more diversified into LNG and container shipping.
• Sapura Energy Berhad: Larger Malaysian oil and gas integrated services company with drilling, EPCC, maintenance, marine, and subsea operations. Overlaps with CARIMIN across multiple service lines and shared PETRONAS clientele, but operates at much greater scale and broader scope.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat5 records

Key risks5 records

Key highlights8 records

Customer concentration

• LinkedInlinkedin.com/company/carimin-petroleum-berhad

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries6 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 CARIMIN