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Corporate Profile



IEV Holdings Limited, its subsidiaries and associates ("IEV" or the "Group"), currently operate in four sectors namely, Offshore Engineering Sector, Mobile Natural Gas Sector, Exploration and Production Sector and Renewable Energy Sector. The Group's operations span the Asian region while projects are undertaken worldwide. IEV offers both specialised technologies and turnkey services to construct, repair, maintain, rejuvenate and remove offshore oil and gas production facilities in the Offshore Engineering Sector. In the Exploration and Production Sector, IEV is currently involved in the onshore exploration and production of hydrocarbons in Indonesia. In the Mobile Natural Gas Sector, IEV develops and operates compressed natural gas supply chains to deliver natural gas to customers without gas pipeline access in Indonesia and Malaysia. IEV is engaged in the Renewable Energy Sector through the manufacture of briquettes from rice husk in the Mekong Delta to provide a low cost and green fuel source to factories in Vietnam.


IEV's history started with the invention of the "ocean-powered" marine growth control ("MGC") technology by its founder and current President and CEO, Christopher Do in 1987. Now in its 29th year of operation, IEV has grown into a multinational group of companies, serving the regional oil and gas industry and growing steadily to become a fully integrated energy provider.

Today, IEV provides a range of specialised technologies and niche turnkey engineering solutions to support the oil and gas industry.

In 2005, the Group entered into the energy business and developed two mobile natural gas supply chains in Indonesia and Vietnam. In 2012, the Group took a step closer to becoming an integrated energy provider with the award of the first cooperation agreement ("KSO") by PERTAMINA to carry out onshore exploration and production activities in the Pabuaran block in West Java, Indonesia. IEV's goal to make energy affordable to all was further realised through the establishment of its Renewable Energy Sector business in 2013 to champion alternative and clean energy solutions.


 The four sectors form a solid foundation in achieving our vision in making energy affordable and accessible to all 


In OES, IEV provides a range of highly specialised technologies under its Integrated Engineering Solutions ("IES") to address the engineering challenges of installing and operating subsea facilities of upstream oil and gas assets. Such solutions support the installation of offshore platforms and pipelines, enhance and maintain their structural integrity, and aid in the decommissioning of ageing structures. The core technologies of the Group are in the fields of marine growth control, corrosion control, diamond wire cutting, structural pile grouting, freespan correction, trenching, underwater dry welding, grouted clamps, concrete mattress and decommissioning studies. In 2013, IEV launched and applied for patents for its new generation of Marine Growth Preventers with selfcleaning and anti-impact features to provide marine structures with a long term and cost effective solution against marine growth colonisation. From 2015, the Group has offered the Oxifree corrosion control technology under an exclusive distribution agreement in five countries including Vietnam, Indonesia, Malaysia, Brunei and India. Oxifree is a unique reusable corrosion inhibitor that can be applied to not only the oil and gas industry, but also power plants, fertilizer plants and the mining industry.

Also in this sector, IEV provides niche Turnkey Solutions ("TS"), particularly for projects that require "end-oflife" engineering needs through its "3-Re" value proposition - Rejuvenate, Remove and Reuse. These turnkey services help to extend life of ageing structures, decommission assets that are no longer in service, as well as supply refurbished structures for marginal field developments to reduce both project time and cost. The Group manages large transportation and installation contracts for both shallow and deep-water facilities through collaboration with its strategic alliance partners. Currently, IEV operates its OES business from its headquarters in Malaysia and two foreign operating centres in Indonesia and Vietnam. The Group has also established a network of agents to distribute its proprietary Marine Growth Control products in India, China, Australia, America, Africa, Europe and the Middle East.



In MNGS, IEV currently operates a 4.5 million standard cubic feet per day ("mmscfd") compressed natural gas ("CNG") supply chain in West Java, Indonesia. The plant supplies CNG to industrial customers within a 200 kilometer radius without pipeline access, who are using CNG to replace more expensive fuels such as liquefied petroleum gas and diesel. IEV is currently developing the first CNG supply chain for the East Coast of Peninsular Malaysia under Gas Malaysia IEV Sdn. Bhd., a joint venture company with Gas Malaysia Berhad.

The Group is engaged in feasibility studies for several mobile natural gas infrastructure developments, where its capabilities and experience can be utilised for the commercialisation of stranded gas via CNG or small scale liquefied natural gas ("LNG") supply chains. IEV's strategy in this area focuses on the use of natural gas to replace oil as the primary source of fuel for industrial, transport and remote power generation applications.


The Group's entry to exploration and production through the Pabuaran KSO in Indonesia with PERTAMINA is a significant step towards implementing its strategy to develop an integrated energy business. The Group was awarded a 15-year joint operation agreement for the Pabuaran onshore block in Indonesia in September 2012. In 2015, the Group has conducted several test drills and intersected multiple zones of oil and gas bearing intervals in this field. In line with this activity, the Group had also engaged an independent consultant, who meets the Catalist Rules requirements of a qualified person, to prepare the Independent Qualified Person's Report ("IQPR") and provide an estimate of hydrocarbon reserves and valuation of the Pabuaran block. The IQPR highlighted proven reserves and contingent resources based on the first onshore well drilled by the Group in Cilamaya Selatan.

The Group is now proceeding to implement the approved production plan for Cilamaya Selatan. As the price of gas from wellheads in Indonesia has not been affected by the current oversupply of oil, the Group will accelerate its plan of development for gas from the Pabuaran KSO. The Group also plans to continue to appraise the potential of the shallower structures at Cisubuh and deeper Talang Akar and Jatibarang Formations in future development wells.


In 2013, IEV implemented its strategic plan to meet the energy mix requirements through its first biomass plant in the Mekong Delta, commonly referred to as the "rice bowl of Southern Vietnam". Rice husk, a waste product from rice production will be used as feedstock to manufacture briquettes to fuel boilers in factories and power plants. In March 2016, IEV inaugurated its first biomass manufacturing plant, MK-1 Biomass Plant ("MK-1 Plant"). The MK-1 Plant is situated on a 13,000m2 land space with a capacity to store up to 10,000 metric tons of rice husk and produce up to 150 tons of rice husk briquettes per day. In the initial phase, the Group will focus on the manufacturing and supply of rice husk briquettes to satisfy domestic demand for steam production. This will be followed by the production of diverse valued-added biomass products for a wide range of industries.

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