SapuraKencana nets RM305mil worth of jobs
Date: 7.12.2015.

Publication source: The Star Online

KUALA LUMPUR: The SapuraKencana Petroleum group has netted engineering and construction contracts, including contract extensions, with a combined value of US$72mil (RM305mil).

The oil and gas services provider said in a statement to Bursa Malaysia that its unit SapuraKencana HL Sdn Bhd was given a contract by Roc Oil (Sarawak) Sdn Bhd - the local unit of Australian oil and gas firm Roc Oil Co Ltd - to provide engineering, procurement, construction and commissioning for simultaneous production and drilling (Siprod) on a drilling platform in the D35 field offshore Sarawak.

“The works involve the preparation of Siprod package on the D35DP-B platform for a drilling campaign and subsequent well tie-in activities,” it said.

Works for the four-month contract are expected to start in the fourth quarter of this year with expected completion by next quarter.
Another unit, SapuraKencana TL Offshore Sdn Bhd (formerly known as TL Offshore Sdn Bhd) (SKTLO), has been awarded a subcontract from main contractor, L&T Hydrocarbon Engineering Ltd, for the additional development of the Vasai East project 78km offshore Mumbai, India.

SKTLO has to install structures and pipelines and do other subsea work at Vasai East. The job is expected to be completed in March 2016.

SapuraKencana also announced that SapuraKencana Drilling Holdings Ltd’s previously-announced drilling rig contract for Foxtrot International LDC in Côte d’Ivoire (Ivory Coast), West Africa, had been extended by five months to August 2016.

Foxtrot still retains the option to extend the contract by three additional wells, which if exercised, will keep the SKD Alliance -- SapuraKencana’s semi-tender assist drilling rig -- on contract until the final quarter of 2016.

The contracts announced above are expected to contribute positively towards the earnings of the SapuraKencana group principally for the financial year ending Jan 31, 2016 and, for contracts that extend beyond Jan 31, the financial period(s) thereafter during their respective contract periods.