SapuraKencana Wins Gulf of Thailand EPCIC Contract

Malaysia's SapuraKencana Petroleum Berhad announced that its wholly-owned subsidiary, Kencana HL Sdn Bhd has received a letter of award from Trans Thai-Malaysia (Malaysia) Sdn Bhd (TTM) for the provision of engineering, procurement, construction, installation and commissioning (EPCIC) of JDA Gas Balancing Evacuation (EVA) Project.

The EPCIC contract, valued at approximately $180.65 million, covers a period of three years.

"Works (on the contract) is expected to commence in the second quarter of 2013 and expected to be completed by the first quarter of 2016," SapuraKencana said in an announcement on the country's stock exchange Bursa Malaysia.

TTM, which is equally owned by Petroleum Authority of Thailand (PTT) and Malaysia's Petroliam Nasional Berhad (Petronas), was established to oversee the gas pipeline and gas separation plant projects in February 2000. It was responsible for transporting natural gas from the gas reserves in the Thai-Malaysia joint development area (JDA).

The JDA is located 162 miles (260 kilometers) east of Songkhla Province in the Gulf of Thailand and covers an area of 2,800 square miles (7,250 square kilometers).

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