Ranhill Worley Sdn Bhd: Company Profile

Background

Overview

Ranhill Worley Sdn Bhd (RW) is a prominent engineering and design services provider specializing in the oil and gas, energy, chemicals, and resources sectors. Established in 1995 as a joint venture between Ranhill Berhad and Worley Ltd., RW has built a strong reputation for delivering high-quality, value-driven solutions for complex projects. The company operates across various business lines, including upstream offshore, downstream refining and gas processing, LNG regasification, and chemicals.

Mission and Vision

RW is committed to delivering innovative and sustainable engineering solutions that meet the evolving needs of its clients. The company's mission is to provide comprehensive services that span the entire asset lifecycle, from design and engineering to project management and asset services, ensuring the efficient and safe operation of facilities.

Primary Area of Focus

RW's primary focus is on providing engineering, design, management, and consultancy services to the energy, chemicals, and resources sectors. The company is particularly recognized for its expertise in carbon storage, decarbonization, and technology solutions, positioning itself as a leader in these areas.

Industry Significance

With over 25 years of experience, RW has established itself as a credible and reliable partner in the engineering services industry. The company's involvement in landmark projects, such as the Malaysia Kasawari Carbon Capture Storage (CCS) project—the world's largest offshore CCS project—demonstrates its significant role in advancing sustainable energy solutions.

Key Strategic Focus

Core Objectives

• Sustainable Engineering Solutions: Develop and implement engineering solutions that promote sustainability and environmental responsibility.

• Comprehensive Asset Lifecycle Management: Provide end-to-end services covering the entire asset lifecycle, from design and engineering to project management and asset services.

• Technological Leadership: Leverage advanced technologies to deliver innovative solutions that meet complex project requirements.

Specific Areas of Specialization

• Carbon Capture and Storage (CCS): Specialize in designing and implementing CCS solutions, including the world's largest offshore CCS project in Malaysia.

• Decarbonization Technologies: Develop and apply technologies aimed at reducing carbon emissions in the energy and industrial sectors.

• Engineering and Design Services: Offer comprehensive engineering, procurement, construction management (EPCM), and project management consultancy (PMC) services.

Key Technologies Utilized

• Advanced Engineering Software: Utilize state-of-the-art engineering design and simulation tools to ensure precision and efficiency in project execution.

• Carbon Capture Technologies: Implement cutting-edge technologies for capturing and storing carbon dioxide emissions.

• Renewable Energy Integration: Incorporate renewable energy solutions, such as solar power, into traditional energy systems to promote sustainability.

Primary Markets and Conditions Targeted

• Oil and Gas Industry: Provide services to upstream and downstream sectors, including offshore facilities and refining processes.

• Energy Sector: Focus on both conventional and renewable energy projects, emphasizing sustainable and efficient energy production.

• Chemical and Resource Industries: Offer specialized services tailored to the unique needs of chemical processing and resource extraction sectors.

Financials and Funding

Funding History

RW operates as a subsidiary of Ranhill Utilities Berhad, a publicly listed company on Bursa Malaysia. As part of Ranhill Utilities, RW benefits from the group's financial resources and strategic direction. The group's financial performance is robust, with significant revenue contributions from its various sectors, including engineering services.

Recent Funding Rounds

Specific details regarding recent funding rounds for RW are not publicly disclosed. However, the company's strategic initiatives and project acquisitions indicate a strong financial position and ongoing investment in growth and development.

Notable Investors

As a subsidiary of Ranhill Utilities Berhad, RW's primary investors include Ranhill Berhad and Worley Ltd. These partnerships provide RW with substantial expertise, resources, and market access, enhancing its competitive edge in the industry.

Intended Utilization of Capital

Capital raised and allocated by RW is primarily utilized for:

• Project Acquisition and Execution: Securing and delivering large-scale engineering projects, such as the Malaysia Kasawari CCS project and the Brazil P-82 Floating Production Storage and Offloading (FPSO) project.

• Technological Development: Investing in research and development to advance decarbonization technologies and enhance engineering capabilities.

• Operational Expansion: Expanding operational capacity to meet the growing demand for sustainable engineering solutions in the global market.

Pipeline Development

Key Pipeline Candidates

• Malaysia Kasawari Carbon Capture Storage (CCS) Project: The world's largest offshore CCS project, focusing on capturing and storing carbon dioxide emissions from natural gas production.

• Brazil P-82 Floating Production Storage and Offloading (FPSO) Project: A significant offshore oil and gas project incorporating advanced carbon capture and storage technologies.

Stages of Clinical Trials or Product Development

As an engineering services provider, RW does not engage in clinical trials or product development in the pharmaceutical sense. However, the company is involved in the development and implementation of advanced engineering solutions, including those related to carbon capture and decarbonization technologies.

Target Conditions

RW's projects primarily target:

• Carbon Emissions Reduction: Implementing solutions to capture and store carbon dioxide emissions from industrial processes.

• Sustainable Energy Production: Developing technologies and infrastructure that support the transition to renewable energy sources.

Relevant Timelines for Anticipated Milestones

• Malaysia Kasawari CCS Project: Engineering design work is expected to be completed by the third quarter of 2024.

• Brazil P-82 FPSO Project: The project is ongoing, with detailed design engineering services being provided over a 14-month period, as announced in November 2022.

Technological Platform and Innovation

Proprietary Technologies

• Carbon Capture and Storage (CCS) Solutions: RW has developed proprietary technologies for capturing and storing carbon dioxide emissions, positioning itself as a leader in this field.

• Decarbonization Technologies: The company has invested in technologies aimed at reducing carbon emissions in the energy and industrial sectors.

Significant Scientific Methods

• Advanced Engineering Design: Utilizing state-of-the-art engineering design and simulation tools to ensure precision and efficiency in project execution.

• Integrated Project Delivery: Employing integrated project delivery methods to enhance collaboration and efficiency across project teams.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed in the available information, RW's commitment to technological advancement suggests ongoing exploration and potential integration of AI technologies to optimize engineering processes and project outcomes.

Leadership Team

Key Executive Profiles

• Tan Sri Hamdan Mohamad: Chairman and Chief Executive of Ranhill Utilities Berhad, overseeing strategic direction and operations.

• Dato' Faiz Bin Ishak: Chartered Accountant (MIA), Fellow (ACCA), serving as the Chairman of Ranhill Utilities Berhad.

• Yeo Keong Yuan: Executive Director with a Master of Engineering in Civil Engineering, contributing to the company's engineering and project management initiatives.

• Yeo Keong Yeen: Executive Director with a Master of Engineering in Civil Engineering and an Associate qualification from the City and Guilds of London Institute, involved in engineering and project management.

Leadership Changes

Specific details regarding recent significant changes or appointments within RW's leadership are not publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The engineering services market, particularly in the oil and gas sector, is characterized by a growing emphasis on sustainability and decarbonization. Companies are increasingly investing in technologies and solutions that reduce carbon emissions and promote environmental responsibility. The demand for carbon capture and storage solutions is expected to rise, driven by global efforts to combat climate change.

Competitor Analysis

RW operates in a competitive landscape with several key players:

• Sembcorp Marine Integrated Yard Pte Ltd: Collaborated with RW on the P-82 FPSO project, highlighting a competitive yet collaborative environment.