SapuraKencana Bags $415M EPCIC Contracts from CPOC, Hess
Malaysia's SapuraKencana Petroleum Berhad bagged two engineering, procurement, construction, installation and commissioning (EPCIC) contracts, worth approximately $415 million (MYR 1.3 billion), for work offshore Malaysia and Thailand.
The first EPCIC contract, awarded by Carigali-PTTEPI Operating Company Sdn Bhd (CPOC), requires SapuraKencana to provide 4 wellhead platforms and associated subsea pipelines for Block N-17 and B-17-01 Field Phase 3 Development Project in the Thailand-Malaysia Joint Development Area (JDA). Work on the contract, expected to take approximately 39 months, will commence this month and targeted for completion in Sept. 2017.
SapuraKenanca will also provide 3 wellhead platforms in the North Malay Basin to Hess Exploration and Production Malaysia B.V. under the second EPCIC contract. The firm has commenced work on the 25-month long contract in the second quarter of 2014, with completion planned for completion in by the third quarter of 2016 .
"The new contracts recognize the capabilities that SapuraKencana Petroleum's various divisions have built up, post the merger, to execute integrated and seamless end-to-end work for clients ... The Group is now an established integrated services provider that is well-equipped to undertake the challenges of EPCIC work regionally and globally," SapuraKencana's President and Group CEO Shahril Shamsuddin said in a press release.
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