Scomi Group Bhd/Derrick Solutions International

SCOMI GROUP BHD/DERRICK SOLUTIONS INTERNATIONAL
www.scomigroup.com.my

Company Information
Headquartered in Malaysia, Scomi Group Bhd is global service provider, focusing on the oil and gas industry in thirty-six countries.[i]

Contact Information
Corporate Headquarters:
Scomi Group Bhd
5th Floor, Wisma Chase Perdana
Off Jalan Semantan
Damansara Heights
50490 Kuala Lumpur, Malaysia
T: +603 2080 5080
F: +603 7490 5131

Turkmenistan Offices:
Scomi Oiltools Turkmenistan Ltd.
Azadt Street 95
A Navoi Street 68 “A”
Ashgabat, 74000

Scomi Oiltools Ltd. Turkmenistan
Shagadam Street 8 Office 206
204, Ferry Station Belding
745000 Turkmenbashi

History in Turkmenistan
Scomi began operations in Turkmenistan in 2005, and has been awarded three contracts by Petronas Carigali Sdn Bhd alone for work in Turkmenistan.

In 2007, Scomi was awarded a contract by Dragon Oil to provide drilling fluids. “With this contract, Scomi has captured more than 80 percent share in both the Drilling Fluids and Drilling Waste Management market in Turkmenistan for up to two years.”[ii]

Current Scope of Operations
The most recent of Scomi’s contracts with Petronas, which comprises services in Drilling Fluids and Drilling Waste Management, is a three-year contract that began in May 2008.[iii] Valued at approximately RM157 million,[iv] or over $46 million,[v] this contract solidified Scomi’s role as a leading oilfield services company in Turkmenistan.

As of August 2010, Scomi Oiltools and Derrick Corporation Ltd. separated, concluding long-term collaboration in countries around the world, including Turkmenistan.[vi] Derrick Solutions International lists Turkmenistan on its website summary of the countries in which it is “mobilizing personnel and inventory.”[vii]

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[i] Scomi, http://www.scomigroup.com.my/about/profile.asp. Accessed December 3, 2008.

[ii] Scomi, Press Release: Scomi Secures RM157 Million Contract in Turkmenistan, 25 Oct. 2007,http://www.scomigroup.com.my/media/newsDetail.asp?intID=864. Accessed February 11, 2011.

[iii] Scomi (25 Oct. 2007).

[iv] Scomi (25 Oct. 2007).

[v] Scomi Group Bhd announced this contract on October 25, 2007. As calculated by XE (http://www.xe.com/), 1 RM equaled USD .2980534795 on this date. Therefore, RM157 million equaled USD 46,794,496 on this date.

[vi] Scomi, News Flash, 1 Aug. 2010,http://www.scomigroup.com.my/core/oilfield_intro20100519.asp. Accessed February 11, 2011.

[vii] Derrick Solutions International, http://derricksolutions.com/. Accessed February 11, 2011.