SapuraKencana Seeks More Overseas Oil, Gas Projects

SapuraKencana Petroleum Bhd (SapuraKencana) plans to secure more contracts in overseas foreign oil and gas projects - including those in Brazil and West Africa – in order to boost the company’s revenue, said president and group chief executive officer Sharul Shamsuddin.

"We are looking to secure projects within our core businesses, which are integrated oil and gas services such as drilling, pipe construction and offshore construction,” Sharil said as reported by Bernama, adding that SapuraKencana was more prepared to venture further into international markets as the company is now equipped with expanded capacity and technical expertise.

In 2012, SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd merged to form SapuraKencana in a deal with around US$3.95 billion (MYR 11.85 billion). Its current orderbook stands at around US$6.1 billion (MYR 18.2 billion).

SapuraKencana announced June 4 that its subsidiary TL Offshore won a $35-million contract and will work with PTSC Offshore Services Joint Stock Company to install offshore facilities for the Diamond Development Project in Blocks 01 and 02 off Vietnam. The contract comprises of installation services for platform and pipeline in the Diamond field, located 11.2 miles (18 kilometers) north of Ruby field and 96.3 miles (155 kilometers) east of Vung Tau.


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