Publication source: The Star Online
KUALA LUMPUR: SapuraKencana Petroleum Bhd has been awarded four engineering and construction contracts with a total value of about US$97.4mil (RM433.4mil).
In a filing with Bursa Malaysia on Thursday, the oil & gas solutions provider said the deals clinched by its subsidiaries - for which no individual contract value was disclosed - included Petroliam Nasional Bhd’s (Petronas) umbrella contract to provide the Pan Malaysia transportation and installation of offshore facilities for one year (from 2017 to 2018).
The last time the Pan Malaysia integrated offshore installation contract (transportation and installation) was awarded, it had been for three years (2014-2016) with total work value estimated to be almost RM10bil and spread over four packages.
SapuraKencana also secured two contracts from Petronas Carigali Sdn Bhd, one for the stabilisation and repair works for the Sepat mobile offshore production unit offshore Terengganu; and the other for building a full well stream (FWS) air cooler module on its central processing platform NC3CP-A offshore Sarawak.
The contracts are for five months and 33 months, respectively.
The fourth contract, given by Petronas’ 40%-owned associate PCPP Operating Company Sdn Bhd, was for decommissioning of the facilities at the Dana and D30 fields off Sarawak.
The contract is for a duration of about nine months.
SapuraKencana said the contracts were expected to contribute positively towards the earnings of the group principally for the financial year ending Jan 31, 2018, and for contracts that extend beyond Jan 31, 2018, the financial period(s) thereafter.