Sapuracrest Joint Venture Clinches Rm220m Job In Japan

abarrelfullabarrelfull wrote on 28 Aug 2013 19:23

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REGIONAL oil and gas services provider SapuraCrest Petroleum(8575), through joint-venture company SapuraAcergy Sdn Bhd, has secured a RM220 million platform decommissioning project in Japan.

The contract was awarded by Nippon Steel Engineering Co Ltd.

The platform, weighing more than 20,000 tonnes, is the largest to be decommissioned in Japan to date, SapuraAcergy said in a statement yesterday. The contract signing ceremony was held in Tokyo last Friday.

Datuk Shahril Shamsuddin, executive vice-chairman of SapuraCrest Petroleum and chairman of SapuraAcergy, signed on behalf of SapuraAcergy. Nippon Steel was represented by its managing director Yoshichika Nishio.

"This is our next major international project for SapuraAcergy following the Mumbai High South project, employing our state-of-the-art dynamically positioned heavy lift and deepwater pipelay vessel, the Sapura 3000.

"Winning international projects against major global competitors is a testament of our technical competency and capabilities. This is the result of our long-term strategic investment in developing our people and equipment such as Sapura 3000 to address industry needs," Shahril said in the statement.

The group had completed the Mumbai High South Re-development Phase 2 (MHSRP) in India earlier this month. The new contract signifies a major push into the Far East by SapuraCrest Petroleum after the completion of several projects in Taiwan and Sakhalin, Russia, in the past few years. The Offshore Iwaki platform is operated by Offshore Iwaki Petroleum Co Ltd, Japan (a subsidiary of Inpex Corp).

The Iwaki offshore gas field, in 150 metres water depth, is about 40km east of Naraha Cho, Fukushima Prefecture, on the east coast of Japan. The facility was commissioned in 1983 and consisted of offshore drilling modules installed on the jacket structure and a pipeline for transporting gas from the field to the Offshore Iwaki Petroleum onshore plant in Naraha Cho. The field was shut in 2007.

The statement said work would begin immediately. The offshore decommissioning is expected to be executed early next year. The decommissioning includes the removal of heavy lift topsides, upper section of the jacket and a section of the gas export pipeline using the Sapura 3000. Shahril said the project will enhance the range of capabilities of the Sapura 3000. It will also enrich the group with additional experience and technology in offshore structure decommissioning works.

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