SapuraKencana-Linked Firms Bag $124M T&I Contracts in Vietnam, Australia

Malaysia's SapuraKencana Petroleum Berhad reported that its wholly-owned unit TL Offshore Sdn Bhd (TLO) and equal joint venture firm SapuraAcergy Sdn Bhd have bagged transportation and installation contracts, worth over $124 million, for projects in Vietnam and Australia, the company said in an announcement on local stock exchange Bursa Malaysia Friday.

TL Offshore has been engaged for work on Phase 1 of the Nam Con Son 2 Gas Pipeline Project offshore Vietnam. The company will transport and install a 93 mile (151 kilometer) offshore pipeline in Nam Con Son field and an 11 mile (19 kilometer) pipeline in Dai Hung field -- located in the south west of Nam Con Son Basin, 161 miles (260 kilometers) from Vung Tau, Vietnam. Work on the $89 million contract will be performed over 2 campaigns in the third quarter of 2014 and second quarter of 2015.

In another assignment, TL Offshore has won a $7.3 million subcontract from Vietnam's PTSC Offshore Services Joint Stock Company to install the Te Giac Trang field H5 Wellhead Platform Jacket and Drilling Wellbay Module 1 in Block 16-1, offshore Vietnam.

Over in Australia, SapuraAcergy (Australia) Pty Ltd -- a wholly owned entity of SapuraAcergy which is a 50:50 joint venture firm between SapuraKencana Petroleum and Subsea7 S.A -- had inked a contract Aug. 19 with Origin Energy Resources Limited to transport and install a compressor module and a condensate pump module onto the 'Yolla A' platform, which is located in Yolla Field, Bass Strait, Australia.

Engineering work on the Origin Energy contract, approximately $28 million, has commenced, with the offshore installation campaign in Australia scheduled to begin in the fourth quarter of 2014 over an estimated duration of 8 days.


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