Malaysia's SapuraKencana Petroleum Clinches $117M Contracts

Malaysia's SapuraKencana Petroleum Berhad reported Thursday that its wholly-owned subsidiary companies clinched engineering and construction as well as drilling contracts and extensions worth a total of around $117 million (approximately MYR 503 million).

Domestically, the firm's unit SapuraKencana HL Sdn Bhd was awarded a contract for hook up and commissioning works for KNPG-B Phase II of the Kinabalu Non-associated Gas (NAG) Development Project by THHE Fabricators Sdn. Bhd. SapuraKencana HL will provide supervision, manpower, equipment and marine spread to carry out the hook up and commissioning of a Compression System module and High Pressure High Temperature (HPHT) facilities on the KNPG-B Central Processing Platform. Work is expected to commence on the eight month-long contract in the first quarter of 2016.

On the international front, SapuraKencana Technology Sdn Bhd (formerly Sapura Energy Sdn Bhd) secured a deal to provide engineering, procurement and construction (EPC) of the Subsea Isolation Value (SSIV) Systems by Hess Exploration & Production Malaysia B.V. at Block PM302, North Malay Basin. Under the contract, SapuraKencana Technology will carry out and complete work for SSIV Skids, Subsea Umbilical and Flying Lead, Hydraulic Power Unit (HPU), Topside Umbilical Termination Unit (TUTU), Umbilical Termination Assembly (UTA) and the supporting details. The contract is for a period of approximately 18 months, with work scheduled for completion around the first quarter of 2017.

Meanwhile, SapuraKencana Drilling Tioman Sdn. Bhd. has bagged a contract from Sarawak Shell Berhad (SSB)/ Sabah Shell Petroleum Co. Ltd. (SSPC) for the provision of its semi-tender assist drilling rig SKD Esperanza. The contract duration is for 18 months, with options to extend for up to another 18 months.

Elsewhere in West Africa, SapuraKencana Drilling Holdings Ltd.’s tender assist drilling rig SKD T20 operating offshore Cote d'Ivoire is expected to complete its contract in June 2016. There is the option to extend the contract to drill 5 additional wells, which if exercised, will keep the SKD T20 on contract to the final quarter of 2016.



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