The Board of Directors of Dialog Group Berhad (“DIALOG”) wish to announce that its wholly owned subsidiary, Dialog D & P Sdn Bhd (“DDPSB”) has on 22 June 2012 entered into a Memorandum of Understanding ("MOU") with Halliburton Energy Services (M) Sdn. Bhd. (“HESSB”) to jointly cooperate to pursue projects and/or opportunities in the re-development of mature oil fields in Malaysia (“Projects”).
This strategic alliance with HESSB is in line with DIALOG’s strategy to continue to develop its upstream capabilities in the oil and gas activities which include the rejuvenation and re-development of mature oil fields and the development of marginal fields that will create a robust platform for generating long term sustainable revenue from incremental oil and gas production.
The increased upstream activities will provide further opportunities for DIALOG to participate in other parts of the value chain in the field development cycle, particularly in relation to the provision of engineering and operations services.
The strengthening of the upstream capabilities will lead to an increase in DIALOG’s sources of sustainable and recurring income in the future and reinforces DIALOG’s position as a leading integrated services provider.
