46 Management Discussion And Analysis / Business Review DAGANG NeXCHANGE BERHAD Integrated Report 2024 BUSINESS REVIEW Overview of Core Business Activities The Energy Business Segment comprises upstream exploration and production, as well as technical support services, enabling participation across a broad energy value chain. Ping Petroleum Limited (“Ping”) Ping manages the Group’s upstream portfolio across the United Kingdom and Malaysia, with: In Malaysia: • One reactivation-stage asset: Abu Cluster. • Three development clusters: Meranti Cluster, A Cluster and Beta Cluster - all located offshore Peninsular Malaysia and Sarawak acquired under the PETRONAS Malaysia Bid Round 2022 and 2024+ rounds. In the United Kingdom: • Four producing fields within the Anasuria Cluster (North Sea). • Additional development licences, including Avalon, Hutton, Pilot and P2640. Ping specialises in revitalising mid-life and marginal fields through cost-efficient, phased development strategies, supported by lean operations and prudent capital management. OGPC Sdn Bhd (“OGPC”) Initially focused on supplying technical equipment and services to the oil and gas sector, OGPC has since expanded its reach into other key industries, including petrochemical, power generation, palm oil and general industries. This diversification supports its growing role in downstream project execution and industrial solutions delivery. Energy RM319.01 million REVENUE RM19.00 million PROFIT BEFORE TAX
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