SapuraKencana Petroleum Bhd has won a new contract in Congo as as three contract extensions in Angola, Brunei and Thailand worth a total of US$454 million (RM1.48 billion).

The successful development of the Berantai marginal oil field, located off Terengganu, can be a good model that be replicated in other similar projects, according to its developer.

SapuraKencana Petroleum Bhd recently signed a RM16.5 billion refinancing club deal that gives better tenure and term to the company's borrowings including many legacy loans made during the company's early asset acquisitions.

Shahril said the group sees oppurtunities in greenfield acreages, marginal fields that have not been developed, as well as brownfield projects where the group is able to develop existing oilfields.

SapuraKencana Petroleum Bhd expects earnings to grow as it would reflect the full year contribution of the tender rigs business, additional earnings from the acquired assets of Newfield Peninsular Malaysia Inc, and revenue steams from both currently contracted assets as well as assets which will be deployed in new markets.

In a statement to Bursa Malaysia, the company said net profit for the fourth quarter ended January climbed to RM337.2 million froom RM123.8 million a year ago while revenue dropped to RM1.8 billion from RM1.9 billion previously.

China-based and Singapore Exchange-listed Cosco Corp has delivered SapuraKencana 1200, a heavy-lift pipelay vessel. The 154m ABS-class ship is capable of shallow and deepwater operations.

SapuraKencana Petroleum Bhd announced the succesful conclusion of a RM16.5 billion refinancing club deal signed with 13 local, regional and international banks, coordinated by both Maybank Investment Bank Bhd and CIMB Investment Bank Bhd.

SapuraKencana Petroleum Bhd said the proposed JV is for the parties to work together for the provision of after-sale services of rotating oil & gas equipment that GE Power Systems's O&G business division has sold or will sell to its customers.

Alliance Research Sdn Bhd has maintained overweight call on sector, with SapuraKencana as its top pick.