Malaysia’s PSC Indus invited to bid for Sudan oil block

KUALA LUMPUR, Jan 14, 2004 (Dow Jones) — Diversified Malaysian company PSC Industries Bhd. (8133.KU) Wednesday said its PSC Tenaga Sdn. unit has been invited to bid for an oil exploration block in Sudan.

The block, which involves offshore and onshore exploration, is being tendered by Sudan’s Energy and Mining Ministry, PSC said in an exchange filing. Bidding for the block is slated for March 1, PSC said.

In the same statement, PSC said a unit of national oil and gas company Petroliam Nasional Bhd. (PET.YY), Petronas Carigali White Nile (5B) Ltd., will use another PSC unit, PSC Sudan Oil and Gas Pte., as a vendor when bidding for tenders in Sudan.

PSC is active in shipbuilding and the manufacture of electronics and defense equipment as well as the construction and installation of oil platforms. The company will now add oil exploration to its range of businesses.

“In view of the above developments, the board of directors has decided to venture into oil and gas exploration activities,” PSC Industries said in the statement.