SapuraKencana's Unit Bags Anadarko's Deal for Survey Work in Colombia

SapuraKencana Petroleum Berhad (SKPB) disclosed Wednesday that TL Geohydrographics Pte Ltd, a wholly-owned subsidiary of SKPB, has been awarded a contract for the charter of Teknik Perdana, a survey vessel and the provision of multi beam echo sounders (MBES) survey work in the Republic of Colombia for the Anadarko Colombia Company project (the Contract).

Information of the Contract

The Contract is for a period of approximately 50 days and the works are expected to be completed on or about early August. The Contract value is approximately $1.7 million.

Financial Effects

The Contract will have no effect on the issued and paid-up capital of the Company and is expected to contribute positively toward the earnings and net assets per share of SKPB Group during the Contract period.

Risk Factors

Risk factors affecting the Contract are mainly operational in nature and include execution risks such as availability of skilled manpower and materials, weather conditions and political, economic and regulatory conditions. Notwithstanding, SKPB Group has established a successful track record in undertaking similar projects.

Directors and Major Shareholders' Interest

None of the Directors and/or major shareholders of the Company and/or persons connected with them has any direct or indirect interest in the Contract.

Directors' Statement

The Board of the Company is of the opinion that the acceptance of the Contract is in the best interest of the Company.

This announcement is dated July 2.


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