FEG operates its business under five divisions:
The Marine Division has a fleet of offshore support vessels to provide direct support to its customers, mainly in the production phase of oil and gas projects. The Group has taken steps to strengthen its marine business by restructuring the Marine Division into a more regional-based operation, and is continuing to grow its fleet by purchasing new vessels.
Currently, FEG owns and operates a fleet of accommodation work barges and support vessels. These provide a wide range of platform supply and engineering services such as offshore hook-up and commissioning, offshore conductor piling, hydraulic work-over/ coiled tubing/well stimulation and pipe trenching. The addition of two new technically advanced Multi-Functional Support Vessels (MFSV) with DP-2 for deep-sea operations further expands the scope of services provided.
Oilfield Services Division:
The Oilfield Services Division provides services such as agencies, logistics and procurement and other general support activities. It provides such services to oil and gas companies worldwide.
Its move into oil trading and other related activities has helped to broaden its revenue stream. The Division has earned a reputation in the oilfield services industry for delivering timely, efficient and cost-effective solutions and services to major oil and independent oil production companies.
Oilfield Projects Division:
The Oilfield Projects Division undertakes various projects that are related to offshore marine and oil and gas industry production facilities. These range in size from small facilities to multi-million dollar heavy oil facilities. FEG will also actively develop other oilfield projects involving Floating, Production, Storage and Offloading ("FPSO") vessels, Floating, Storage and Offloading ("FSO") vessels and other production facilities in conjunction with its existing customer base.
Drilling Services Division:
The Drilling Services Division is set up with the goal of owning and operating offshore oil rigs. It will provide drilling and related services to the oil majors and national oil companies. In this way, the Group will be adding a more integrated portfolio of offshore services for its oil and gas customers.
In 2011, the Group established TS Drilling Pte Ltd in conjunction with its consortium partners to order two jack-up rigs. These are FEG’s first pair of jack-up drilling units. These jack-up drilling rigs will be capable of drilling in a water depth of about 375 feet. The expected date of delivery is late 2013. In April 2013, FEG ordered a KFELS Super B Class capable of drilling in a water depth of 425 feet: and drilling up to 35,000 feet below the sea. These purchases are in line with the Group’s strategy to invest for growth and expand its business activities to related segments of the oilfield industry.
The Group has secured the commercial rights for two coal concessions and is in the process of negotiating for others. Its team of geologists are conducting survey and feasibility studies at various locations in Indonesia. The Group will monitor the coal-mining industry and work towards accumulating coal reserves at good valuation prices.