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July 31, 2016

SapuraKencana secures $125m contract for Tanap project

Malaysia-based SapuraKencana Petroleum's wholly owned subsidiary SapuraKencana TL Offshore has secured MYR510m ($125m) contract for the Trans Anatolian Natural Gas Pipeline (Tanap) project from Tanap Doğalgaz İletim.

By Srivani Venna

Malaysia-based SapuraKencana Petroleum's wholly owned subsidiary SapuraKencana TL Offshore has secured MYR510m ($125m) contract for the Trans Anatolian Natural Gas Pipeline (Tanap) project from Tanap Dogalgaz Iletim.

Under the contract, SapuraKencana will be responsible for engineering, procurement, construction and installation (EPCI) of offshore pipelines and fibre-optic cables for Tanap, which is offshore Dardanelles Strait in the Sea of Marmara.

The project is set to begin in the third quarter of this year and will conclude in the third quarter of 2018.

"This contract win demonstrates that our transformation and strategies are continuing to enhance our competitiveness globally."

The natural gas pipeline project Tanap links Europe and Asia and supplies natural gas from the Southern Gas Corridor project in Azerbaijan through Georgia and Turkey and then to Europe.

State Oil Company of Azerbaijan Republic (Socar) owns a 58% stake in the project, while Turkish Botas Petroleum Pipeline has a 30% stake and British Petroleum (BP) holds 12% interest.

SapuraKencana president and group CEO Tan Sri Dato’ Seri Shahril Shamsuddin said: “This contract win demonstrates that our transformation and strategies are continuing to enhance our competitiveness globally.

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“Our cost reduction efforts and increased operational effectiveness have driven this enhanced competitiveness that has helped us to secure our latest wins in Mexico and TANAP, both totalling just under MYR1bn ($246m).”

Tanap aims to bring natural gas produced from Azerbaijan’s Shah Deniz-2 gas field primarily to Turkey.

Along with the South Caucasus Pipeline (SCP) and the Trans-Adriatic Pipeline (TAP), the project forms the elements of the Southern Gas Corridor.

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