OBYU is the single largest shareholder in Main Market-listed oil and gas entity PETRA Energy Berhad. The PETRA Energy Group began operations over 30 years ago in Miri, Sarawak. Today, the Group is involved in providing a comprehensive range of activities that span the upstream segment of the oil and gas industry specialising in operations and maintenance of oilfields, integrated brown field maintenance & engineering, marine offshore support, design, fabrication supply & installation and engineering & project management services.
PETRA is the sole operator of the Banang oilfield offshore Terengganu under a Technical Services Agreement (TSA) with PETRONAS.
In June 2021, PETRA received a Letter of Conditional Award Offer from Petroleum Sarawak Berhad (“PETROS”) for exploration, development and production of petroleum in Sarawak’s Onshore Block SK433, PETROS’ initial onshore focus.