SMOE, a subsidiary of Sembcorp Marine, has secured a contract worth some US$400 million from Maersk Olie og Gas AS for the construction of a HBD Platform to be installed in the Danish sector of the North Sea.
The contract entails the provision of engineering, procurement, construction, onshore commissioning, load-out and seafastening services for the HBD jacket, piles, topsides, flare and three connecting bridges, which has a total weight of about 16,500 tons, for the Halfdan Phase IV Development Project.
Facilities on the platform topsides will include processing, power generation and utilities. Construction is expected to commence in November 2008 with onshore completion scheduled June 1, 2010.
"This is the third major contract awarded by Maersk Olie og Gas for operations in the North Sea and the biggest single contract secured by SMOE to-date," said Chew Sang Mon, SOME's General Manager for Commercial and Business Development. "In 1998, we had successfully completed two Wellhead Platforms for Maersk Oil Qatar for their Al Shaheen Field. This repeat order is a testament of Maersk Olie og Gas' confidence in our turnkey capabilities and proven expertise in constructing offshore platforms and ability to meet stringent requirements for the North Sea."
The contract is not expected to have any material impact on the net tangible assets or earnings per share of Sembcorp Marine for the current financial year.
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