Sapurakencana Petroleum Bags 5 New Contracts Worth Rm 1 Billion (US$312 Million)

abarrelfullabarrelfull wrote on 19 May 2014 08:29
Tags: asia sapurakencana services

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Global integrated oil and gas services and solutions provider, SapuraKencana Petroleum Berhad, has won a total of 5 new contracts worth RM1 billion (US$312 million) in the Ivory Coast, Russia, India, Brunei and Malaysia.

"We are happy to record another set of new contracts worth RM1 billion in diverse areas of the world so soon after our last announcement in April, where our subsidiaries had won major contracts worth close to RM1.5 billion in several countries," said Tan Sri Dato' Seri Shahril Shamsuddin, the President and Group CEO of SapuraKencana Petroleum.

"This underscores global customer confidence in the Group's capability, experience and resources to contract us to deliver on jobs," he added.

In the Ivory Coast, SapuraKencana Drilling Holdings Limited, a wholly-owned subsidiary of the Group's drilling division, has been awarded a contract for the provision of offshore drilling rig and services by its Tender Assist Drilling Rig “SKD T20’’ (“SKD T-20”) by CNR International (Côte d'Ivoire) S.A.R.L.

The CNRI Contract comprises the provision of SKD T-20 for wells in the Espoir Field in Block CI-26 offshore Côte d'Ivoire. The drilling programme includes drilling, sidetracking, completion and other associated works, where applicable.

The CNRI Contract is for a primary term of 10 firm wells to be completed in not less than 365 days, followed by four single well options to be exercised at CNRI’s sole discretion.

In Russia, TL Offshore Sdn Bhd (“TLO”), a wholly-owned subsidiary of the Group's Offshore Construction and Subsea Services Division, won a charter contract with Heerema Marine Contractors Nederland SE (HMC) for the provision of a command installation vessel “SK1200” for the Arkutun-Dagi Project in Sakhalin.

HMC was awarded a contract by Exxon Neftegas Ltd (“Exxon”) for the transportation and installation of the Arkutun-Dagi topsides. HMC in turn awarded TLO with transportation of Exxon’s Temporary Living Quarters under the Charter. The Charter will be for a firm period of 55 days and the Charterer has an option of 15 daily extensions.

TLO also won a subcontract in India for the provision of transportation and installation works in connection with the British Gas Exploration & Production India Limited Mukta B Platform and Pipeline Project by Larsen & Toubro Ltd (“L&T”). This was awarded through L&T Sapura Offshore Private Limited, an Indian joint venture company between L&T and Nautical Power Pte Ltd, a wholly-owned subsidiary of SapuraKencana.

The LTS Subcontract comprises the provision of transportation and installation of jacket, topside and pipelines, including tie-ins, transportation and installation engineering, procurement and provision of riser clamps for risers at existing platforms, pre-commissioning and project management.

SapuraAcergy Sdn Bhd, a joint venture company equally owned by SapuraKencana and Subsea 7 S.A., has been awarded a 20-month contract for the provision of subsea services for Brunei's Maharaja Lela South Project by TOTAL E&P Borneo B.V.

The MLS contract comprises Engineering, Procurement, Supply, Construction, PreCommissioning, Transportation and Installation related to offshore platform and pipeline works together with associated assistance to start-up.

Finally in Malaysia, JX Nippon Oil & Gas Exploration (Malaysia) Limited has awarded Kencana HL Sdn Bhd, a wholly-owned subsidiary of the Group's Fabrication, Hook-up and Commissioning division with a contract for the provision of detailed engineering, procurement, construction, and commissioning for the Layang Development (Facilities) Project.

The Layang Project is for a period of two years and is expected to be completed by the second quarter of 2016.

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