SapuraKencana Bags PTTEPI's Rig Contract

Malaysia's SapuraKencana Petroleum Berhad announced that its wholly-owned subsidiary, Crest Tender Rigs Pte Ltd. (CTR), has been awarded a contract for SKD T-9 tender rig by PTTEP International Limited (PTTEPI).

PTTEPI, a subsidiary of PTT Exploration and Production Public Company Limited, intends to use SKD T-9 for its Zawtika development drilling campaign offshore Myanmar.

Work on the contract, valued at around $40 million, will commence in July 2013 for an initial operational period of approximately 300 days.

"The award of the T-9 contract is expected to contribute positively to the Group's earnings and net assets per share for the financial year ending Jan. 31, 2014 and the financial periods thereafter in the duration of the T-9 Contract," SapuraKencana said in an announcement on the country's stock exchange Bursa Malaysia.

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