SAPURA ENERGY BERHAD WINS MUBADALA PETROLEUM EPCIC CONTRACT
Date: 21.03.2018.

Kuala Lumpur, 21 March 2018

Sapura Energy Berhad (formerly known as SapuraKencana Petroleum Berhad), has won a contract from Mubadala Petroleum to undertake engineering, procurement, construction, installation and commissioning (EPCIC) works for the Pegaga gas development field in Block SK320, offshore Sarawak.

The contract was awarded to its wholly-owned subsidiary, Sapura Fabrication Sdn. Bhd. by Mubadala Petroleum following the Final Investment Decision by Mubadala Petroleum and its partners PETRONAS Carigali Sdn Bhd (PETRONAS Carigali) and Sarawak Shell Berhad.

“This is our sixth contract win since the beginning of the year. It’s a good start for us. We are proud to be working with a highly respected company such as Mubadala Petroleum and supporting its first development in Malaysia,” said Tan Sri Dato’ Seri Shahril Shamsuddin, President and Group Chief Executive Officer, Sapura Energy Berhad.

Sapura Energy Berhad believes that the increased capital spending by oil and gas firms is an indication that the industry is making a gradual shift towards better times amidst renewed optimism.

The latest contract comes on the back of the Group’s five contract wins earlier this year with PETRONAS Carigali Sdn. Bhd., Hess Exploration and Production Malaysia B.V., Malaysia Marine and Heavy Engineering Sdn. Bhd., and Mumbai Port Trust, bringing a combined value of nearly RM3 billion in contract wins to-date. Collectively, these contracts are expected to contribute positively towards the Group’s earnings for the financial year ending 31st January 2019.

“This contract win is a recognition of our strong track record and technical capabilities in delivering innovative technologies and fit-for-purpose solutions. Our focus is to deliver safely and cost efficiently, without compromising on quality,” said Tan Sri Shahril.

The EPCIC scope covers work for an offshore integrated central gas processing platform (ICPP) facility for the Pegaga gas field which is located in the Central Luconia province, offshore Sarawak, at about 108 metres water depth.

Its development concept comprises of an ICPP consisting of an eight-legged jacket. The facility is designed for gas throughput of 550 million standard cubic feet of gas per day plus condensate. The produced fluids will be evacuated through a new 38-inch subsea pipeline tying in to an existing offshore network and subsequently to the onshore Malaysia LNG plant in Bintulu.

Mubadala Petroleum is Operator of Block SK320 with 55 per cent interest; PETRONAS Carigali holds 25 per cent and Sarawak Shell Berhad 20 per cent interest, respectively.