SapuraKencana Wins $19.7M Subsea Inspection Contract in Malaysia

Malaysia's integrated oil and gas services provider SapuraKencana Petroleum Berhad (SapuraKencana or the company) announced Friday that its wholly-owned subsidiary Allied Marine Equipment (AME) has been awarded a contract by Carigali Hess Operating Company Sdn. Bhd. to provide subsea inspection services for Carigali Hess' offshore facilities in Malaysia.

Under the contract, AME will inspect jackets, pipelines and floating storage and offloading vessel (FSO). AME will also supply diving equipment, remotely operated vehicle (ROV), support vessel, personnel and inspecting/recording equipment as well as tools and spares required to perform the services and other work.

"The contract is valued at approximately $19.7 million (MYR 62 million) over a four year period on a call out basis and is expected to contribute positively towards the earnings and net assets per share of SapuraKencana Group for the duration of the contract," SapuraKencana said in an announcement on the local stock exchange Bursa Malaysia.

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