Almost half of Kencana's RM437 million revenue in its financial year 2006 comes from Petronas and firms linked to the state firm, Kencana's prospectus showed.
Mokhzani told Business Times in Kuala Lumpur yesterday that Kencana has always bid for jobs on an open tender basis similar to other firms.
"Our contracts from Petronas and other oil and gas companies are all based on tenders. Their assessments are based on a company's track records and ability to perform, commercial and technical capabilities, time and space to finish a certain job," said Mokhzani.
Mokhzani controls Kencana, a firm that provides engineering services to the oil and gas industry. He is listing the firm on the main board of Bursa Malaysia to raise funds to repay debt.
The listing means a return to the corporate sector for Mokhzani, who once owned Tongkah and hospital group Pantai Holdings Bhd.
A petroleum engineer by training, Mokhzani said he wants to do what he knows best.
"It's always good to go back to what you know best. I have always been involved in the oil and gas industry and believe I could do more in these field," he added.
Mokhzani said Kencana is still in the process of bidding for new jobs from Petronas.
Apart from Petronas, Kencana has also submitted bids to other firms that are exploring new opportunities internationally and at home.
Kencana's clients include Murphy Oil Corp, Sarawak Shell Bhd, Nippon Oil Exploration and Talisman Ltd.
"If you look at the global oil and gas market, there are lots of opportunities especially in the Middle East and central Asia. In Malaysia, the market is also growing," he said.
He added that Malaysia will always remain an important market for Kencana and it will continue its efforts to scout for major works here to build the industry.
Mokhzani was appointed to the board of Kencana on November 25 2004.
He graduated with a bachelor of Science in Petroleum Engineering from the University of Tulsa, Oklahoma, in 1987.
He began his career as a Wellsire operations engineer with Sarawak Shell in 1987 followed by the appointment of group managing director of Tongkah Holdings Bhd in 1989.
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