MELBOURNE, Australia – MEO Australia (ASX: MEO) and Malaysia-based Brooke Dockyard & Engineering Work Corp. (Brooke) have signed an agreement to form a consortium.
They plan to identify and jointly bid for oil and gas exploration and development opportunities in Sarawak and the rest of Malaysia.
MEO will provide technical assistance and opportunity evaluation assistance to Brooke. The latter will in return fund evaluation activities and the exploration component of joint bids for screened opportunities.
For the initial opportunity to be considered under the agreement, Brooke will have a 75% participating interest and MEO 25%.
Brooke brings access to local fabrication and construction capability in Malaysia for offshore and onshore facilities.