SapuraKencana Petroleum’s wholly owned drilling subsidiaries have secured three new contracts and a contract extension for offshore work in Malaysia and Thailand for a total of approximately RM2.3bn ($700m).

Petcon (Malaysia), a SapuraKencana company, has won two new contracts from Petronas Carigali for the provision of its SKD T-9 and SKD-T-10 tender assist drilling rigs for development drilling campaigns offshore Malaysia.

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With a contract period of five years, the SKD T-9 can be extended for a further two years and will be effective from July 2014 to June 2019.

The SKD-T-10 contract, which will be effective from August 2014 to July 2017, applies for three years with an option to extend for two more years.

"This new business further strengthens SapuraKencana Petroleum’s order book to RM27.4bn and signifies the sustained faith and confidence our clients have in the group’s capabilities and ability to deliver."

The group’s wholly owned subsidiary SapuraKencana Drilling Asia secured the third contract from Chevron Thailand Exploration and Production for the provision of its SKD T-18 tender assist drilling rig for offshore development drilling in Thailand.

The SKD T-18 contract is said to run for a period of five years from June 2014 to May 2019.

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SapuraKencana’s Seadrill Jaya has won a contract extension from BP Trinidad & Tobago for the provision of an offshore drilling rig and services by its tender assist drilling rig ‘West Jaya’ for offshore development drilling in Thailand.

The contract covers one year from August 2014 to July 2015.

SapuraKencana Petroleum president and group CEO Tan Sri Dato’ Seri Shahril Shamsuddin said: "These latest, big business wins, which come on top of approximately RM2.5bn in new contracts and extensions already won so far in 2014, will contribute positively to SapuraKencana Petroleum’s future earnings.

"This new business further strengthens SapuraKencana Petroleum’s order book to RM27.4bn and signifies the sustained faith and confidence our clients have in the group’s capabilities and ability to deliver."

Energy