SapuraKencana Clinches $72M of Work in Malaysia, India & Cote d'Ivoire

Malaysia's SapuraKencana Petroleum Berhad reported Monday that wholly-owned subsidiaries of the company have been awarded contracts and extensions with a total value of approximately $72 million (approximately MYR 300 million), the firm said in a filing with local stock exchange Bursa Malaysia.
SapuraKencana HL Sdn Bhd clinched an engineering, procurement, construction & commissioning (EPCC) contract in Malaysia for Simultaneous Production and Drilling (SIPROD) on D35DP-B from Roc Oil (Sarawak) Sdn Bhd, including work to prepare for a drilling campaign and subsequent well tie-in activities. The contract is for a duration of approximately four months, with work to commence in the fourth quarter of 2015 and completion expected in the first quarter of 2016.

Elsewhere, SapuraKencana TL Offshore Sdn Bhd (formerly known as TL Offshore Sdn Bhd) bagged an installation subcontract from main contractor L&T Hydrocarbon Engineering Ltd (LTHE) for the Additional Development of India's Vasai East Project. SKTLO’s workscope covers the installation of structures and pipelines and other subsea work at Vasai East -- located in the Arabian Sea approximately 48 miles (78 kilometers) offshore Mumbai -- and is due for completion in March 2016.

Meantime, SapuraKencana Drilling Holdings Ltd receives an additional 5 months extension to its contract with Foxtrot International LDC for the supply of the semi-tender assist drilling rig SKD Alliance. The contract with Foxtrot in Cote d'Ivoire is now expected to be completed in August 2016, with the latter holding an option to extend the deal by three additional wells, which if exercised, will keep the SKD Alliance on contract until the final quarter of 2016.


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