SapuraKencana Clinches $459M Contracts for Work in Asia Pacific, Africa

Malaysia's oil and gas services firm SapuraKencana Petroleum Berhad clinched contracts worth $459 million (MYR 1.58 million) to provide fabrication, hook-up and commissioning services; offshore construction and subsea services; and drilling services in Asia Pacific and Africa, the company said in a filing with local stock exchange Bursa Malaysia Friday.

SapuraKencana's Fabrication, Hook-up and Commissioning (FHUC) Division won three contracts with a combined value of approximately $206 million (MYR 710 million), while its Offshore Construction and Subsea Services (OCSS) Division secured three contracts amounting to around $151 million (MYR 520 million) and the Drilling Division bagged two contracts for approximately $102 million (MYR 350 million).

The FUHC Division's Kencana HL Sdn Bhd (KHL) will provide engineering, procurement, construction and commissioning (EPCC) of BNJT-K (Baronia) and TTJT-A (Tukau) Wellhead Platforms (WHP) offshore Sarawak for Petronas Carigali Sdn Bhd (PCSB) -- the upstream arm of national oil company Petroliam Nasional Berhad (Petronas). Work on the $139 million (MYR 480 million) contract, which will take 48 months, is expected to be completed by the last quarter of 2018.

KHL will provide brownfield works on MDPP, MDB and JKB Platforms for Phase 3 Development Project Contract by Carigali-PTTEPI Operating Company Sdn. Bhd. The $26 million deal is scheduled for completion by the end of first quarter 2016. KHL will also complete work on a $40.58 million (MYR 140 million) procurement, construction and commissioning contract for the Angsi compression module by PSCB in the fourth quarter of 2015.

The OCSS Division's TL Offshore Sdn Bhd. received a $12.9 million contract from Vestigo Petroleum Sdn Bhd. to provide transportation and installation (T&I) of Central Processing Platform for Tembikai Oil Project, a marginal field development approximately 93 miles (150 kilometers) east of Terengganu, offshore Peninsular Malaysia. The T&I project is expected to be completed around March 2015. 

Meanwhile, SapuraAcergy (Australia) Pty Ltd, a wholly owned entity of SapuraAcergy Sdn. Bhd., a joint venture company equally owned by SapuraKencana and Subsea 7 S.A. had entered into an $18 million sub-contract with Heerema Marine Contractors Australia Pty Ltd.The sub-contract is for the provision of buoyancy tanks removal and disposal for the Chevron Wheatstone project which is located in Wheatstone field, Western Australia.

SapuraAcergy also bagged a $120 million to $130 million contract from Total E&P Myanmar for the engineering, procurement, construction and installation of the Wellhead Platform 4 and Lower Compression Platform, Pipelines and Cable (EPCI2). Contract works for the EPCI2, which is located in Yadana field, offshore Myanmar, are expected to be completed by the fourth quarter of 2016.


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