SapuraKencana books $346.3m in SE Asia offshore oil contracts

Kuala Lumpur: Subsidiaries of Malaysia-listed SapuraKencana Group have been awarded a host of contracts with a combined value of RM1.58bn ($459m) to provide services to the oil and gas industry across the world. Of these new deals, up to RM1.21bn ($346.3m) in contracts are for offshore oil projects in southeast Asia.

Vestigo Petroleum has awarded a RM44.8m ($12.9m) contract to SapuraKencana-subsidiary TL Offshore for the provision of transportation and installation (T&I) of the central processing platform for the Tembikai oil project, an exchange filing said today.

The contract is expected to be completed in March 2015 at the project in the Tembikai marginal field, located approximately 150km east of Terengganu, Malaysia.

SapuraAcergy, a 50:50 joint venture between SapuraKencana and Subsea 7, has won a contract from Total E&P Myanmar for the engineering, procurement, construction and installation of the wellhead platform 4 and lower compression platform, pipelines and cable at its project in Yadana Field, offshore Myanmar.

The works are expected to be completed by the fourth quarter of 2016. The contract is valued between RM416.6 and RM451.4 ($120m to $130m).

Petronas Carigali has awarded SapuraKencana’s subsidiary Kencana HL with a RM480m ($137.4m) contract that will comprise the engineering, procurement, construction and commissioning of two wellhead platforms in Malaysia’s Baronia and Tukau offshore oil fields.

The contract will take two years to complete and is expected to be completed by the fourth quarter of 2018.

Kencana HL will also provide brownfield works on the MDPP, MDB and JKB platforms in the Muda and Jengka Field, located offshore in the Gulf of Thailand, for Carigali-PTTEPI Operating Company. The RM90.3m ($26m) contract is expected to be completed by the first quarter of 2016.

KHL has also been awarded a contract worth RM140m ($40m) by Petronas Carigali for the procurement, construction and commissioning of it Angsi compression module. Work is expected to be completed by the fourth quarter of 2015. [5/12/14]

 

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