SapuraKencana Gets USD 410 mln Contract Extension from Petronas (Malaysia)

A newly established Malaysian oilfield services provider SapuraKencana has announced that Petronas has exercised its option to extend the contract, originally signed in December 2009, for the transportation and installation of offshore oil and gas facilities, for one year (2013).

Back in 2009, TL Offshore Sdn Bhd (“TLO”), a wholly owned subsidiary of SapuraKencana, was awarded a joint contract by 11 of Petronas’ Production Sharing Contractors (“PSCs”) for the provision of works and services for the transportation and installation of offshore oil and gas facilities and structures for the PSCs for the years 2010 to 2012 with options for 2 further extensions of 1 year each.

The value of the expected scope of works for year 2013 is approximately RM1.3 billion (USD 410 million).

SapuraKencana is the new entity formed by a merger of Kencana Petroleum Bhd and SapuraCrest Petroleum Berhad.

According to the Borneo Post, the $3.8 billion merger has created Malaysia’s largest oilfield services provider, and one of the top five oil and gas services companies in the world by asset value.

Also, the company on Wednesday announced it had secured a contract from Origin Energy for project management, installation engineering, procurement, fabrication, installation and pre-commissioning works at the Origin Otway Phase 3 Development, offshore Australia.

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Offshore Energy Today Staff, May 25, 2012