SMOE Pte Ltd, a wholly-owned subsidiary of Sembcorp Marine, announced that its Indonesian subsidiary, PT SMOE Indonesia, in consortium with PT Rajawali Swiber Cakrawala, has secured a contract worth about $175 million from Premier Oil Natuna Sea B.V. for the engineering and construction of 2 Wellhead Platforms, 2 infield sub-sea pipelines and modification works on an existing facility for the Naga and Pelikan Project, offshore Indonesia.
The platform topside and jacket each weighs approximately 480 and 900 metric tonnes respectively. The sub-sea pipelines of 14 inch diameter by 19 kilometers and 12 inch diameter by 32 kilometers are tied to the existing Central Processing Platform.
PT SMOE Indonesia's scope of work, worth about $63 million, entails engineering design, procurement, construction, offshore hook-up and commissioning of the 2 platforms and modification work on the existing Central Processing Platform, while PT Rajawali Swiber Cakrawala is responsible for the engineering and laying of the 2 sub-sea pipelines as well as the transportation and installation of the 2 platforms in water depth of 269 feet (82 meters).
Construction work on the platforms is expected to commence in July 2012 with offshore completion by September 2013.
Mr. Norman Chew, President Director of PT SMOE Indonesia said, "Both PT SMOE and PT Rajawali Swiber Cakrawala recognize each other's strength and we are glad to have joined forces to secure this contract. This is the second contract award that PT SMOE Indonesia has secured from Premier Oil Natuna Sea B.V."
The contract is not expected to have any material impact on the net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2012
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