AmResearch maintains Overweight on O&G sector
Page 1 of 1
AmResearch maintains Overweight on O&G sector
KUALA LUMPUR: AmResearch is maintaining its Overweight call on the
oil and gas (O&G) sector with Buy calls for SapuraKencana Petroleum,
Alam Maritim, Dialog Group and Petronas Gas.
It
said on Monday in the short to medium-term, excitement in the sector
will still largely stem from the domestic rollout of fresh projects.
These
include the enhanced oil recovery projects for Semarang, Bokor and
Dulang fields; gas cluster developments for the North Malay basin; as
well as in Sabah and Sarawak which are tied to the completion of the
Bintulu LNG complex expansion in 2015.
Additionally, the RM60bil
RAPID project in Pengerang and prolific tank terminal projects in
Southern Johor will continue to drive excitement in the sector
AmResearch said the rollout of new contracts in Q2, 2013 slumped on-quarter during the run-up to the 13th General Election.
“To
date, we note that there were only RM399mil contracts awarded in Q2,
2013 (versus RM4.2bil in Q1, 2013), largely due to the progression cycle
of more complex projects.
“But rig charter rates are slowly
rising, as experienced by UMW Oil & Gas' Naga 2 jack up rig which
secured a contract from PetroVietnam Drilling Well & Services,” it
said.
oil and gas (O&G) sector with Buy calls for SapuraKencana Petroleum,
Alam Maritim, Dialog Group and Petronas Gas.
It
said on Monday in the short to medium-term, excitement in the sector
will still largely stem from the domestic rollout of fresh projects.
These
include the enhanced oil recovery projects for Semarang, Bokor and
Dulang fields; gas cluster developments for the North Malay basin; as
well as in Sabah and Sarawak which are tied to the completion of the
Bintulu LNG complex expansion in 2015.
Additionally, the RM60bil
RAPID project in Pengerang and prolific tank terminal projects in
Southern Johor will continue to drive excitement in the sector
AmResearch said the rollout of new contracts in Q2, 2013 slumped on-quarter during the run-up to the 13th General Election.
“To
date, we note that there were only RM399mil contracts awarded in Q2,
2013 (versus RM4.2bil in Q1, 2013), largely due to the progression cycle
of more complex projects.
“But rig charter rates are slowly
rising, as experienced by UMW Oil & Gas' Naga 2 jack up rig which
secured a contract from PetroVietnam Drilling Well & Services,” it
said.
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics
» AmResearch maintains "Overweight" on O&G sector
» AmResearch 'overweight' on oil, gas sector
» AmResearch keeps ‘overweight’ on oil and gas sector after BN wins
» Kenanga Research maintains overweight on tech sector
» Alliance Research maintains Overweight on banking sector
» AmResearch 'overweight' on oil, gas sector
» AmResearch keeps ‘overweight’ on oil and gas sector after BN wins
» Kenanga Research maintains overweight on tech sector
» Alliance Research maintains Overweight on banking sector
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum