SapuraKencana Petroleum Berhad secures offshore contracts worth $97.4m

2 March 2017 (Last Updated March 2nd, 2017 18:30)

Malaysia-based company SapuraKencana Petroleum Berhad has announced that its subsidiaries have secured multiple offshore contracts that carry a combined value of MYR433.6m ($97.4m).

SapuraKencana Petroleum Berhad secures offshore contracts worth $97.4m

Malaysia-based company SapuraKencana Petroleum Berhad has announced that its subsidiaries have secured multiple offshore contracts that carry a combined value of MYR433.6m ($97.4m).

The company’s subsidiary SapuraKencana TL Offshore has received an umbrella contract from Petroliam Nasional Berhad (Petronas) for pan Malaysia transportation and installation of offshore facilities.

The scope of work includes transportation and installation of platform, structures and pipelines along with the ancillary works. This contract carries one year duration, which is scheduled to end in 2018.

SapuraKencana TL Offshore has also received an offshore contract from Petronas Carigali on engineering, decommissioning, construction, installation and then commissioning of Sepat mobile offshore production unit.

This contract has a duration of five months.

Subsidiary SapuraKencana HL has received a 33-month contract from Petronas Carigali to procure, construct and commission a full well stream air cooler module on central processing platform (CPP).

"SapuraKencana expects that the awarded contracts will contribute to earnings of the group primarily in the financial year that ends on 31 January 2018."

SapuraKencana HL has also secured another contract from PCPP Operating Company that requires completion of engineering, preparation, removal and disposal (EPRD) for Dana and D30 facilities decommissioning project. This contract carries a term of nine months.

SapuraKencana expects that the awarded contracts will contribute to earnings of the group primarily in the financial year that ends on 31 January 2018, reported Thestar.com.

SapuraKencana Petroleum Berhad is a global integrated oil and gas services provider that operates in the upstream value chain.

The company focuses on exploration, development, production, recommissioning of oil and gas projects in around 20 countries.


Image: SapuraKencana vessel at work. Photo: courtesy of SapuraKencana Petroleum Berhad.