The Board of Directors of Kencana Petroleum announced that its wholly owned subsidiary, Kencana HL Sdn. Bhd. has been awarded with a contract from Newfield Peninsula Malaysia Inc., a company based in Houston, USA, for the provision for procurement and construction of offshore wellhead platform.
The Contract comprises the fabrication and procurement of jacket and topside for West Belumut Wellhead Platform. The West Belumut oilfield is located offshore Peninsular Malaysia. The Contract value is estimated at approximately RM46 million. The Contract is a one-off construction contract and is expected to be delivered in stages within the first quarter of 2010.
The Contract is expected to contribute positively to the earnings of Kencana Petroleum Group for the financial year ending July 31, 2010.
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