Petronas ex-CEO to chair Deleum as contractor eyes regional expansion



Malaysian oil and gas services provider Deleum has appointed Petronas’ former chief executive Shamsul Azhar Abbas as its new chairman effective 1 June, succeeding Izham Mahmud who will remain as a company director.

Deleum is looking to expand against the backdrop of increased oil and gas industry spending and is seeking to collaborate and partner with technology companies to foster technology innovation and maintain a competitive edge. The company is also looking to secure work in Indonesia and Thailand in future.

“While we seek to grow our current business by expanding on market share through cross- and upselling within our various segments, we need to set sights on our next growth impetuses in order to create sustainable earnings,” said Deleum group chief executive Rao Abdullah.

“We are not only extending our product and service offerings but also expanding our geographic footprint, particularly in Indonesia and Thailand. This will allow us to better support and increase our client base in the region as demand grows.”

Deleum achieved revenues of 698 million ringgit ($156.6 million) in 2022, a 25% increase from the previous year, which was attributed to encouraging spending in the oil and gas sector. The group’s net profit was up 146.9% year-on-year to 42.1 million ringgit — its highest in seven years.