Sapura, Afcon in $720M ONGC offshore platform award
- Business & Finance
Malaysia’s Sapura Energy and India’s Afcons have won a contract with India’s oil and gas company ONGC to build offshore platform and living quarters.
Sapura Energy said on Thursday the contract was worth 3 billion Malaysian rinngit, or around $720 million.
The consortium partners comprising Sapura Fabrication and Afcons, will be responsible for the engineering, procurement, construction, installation, and commissioning of a Central Processing Platform (CPP) and Living Quarters for KG-DWN 98/2 NELP block.
The block sits offshore the Godavari Delta on the east coast of India, and covers an area of approximately 7,295 kilometres of the Krishna-Godavari basin. Water depth at the block ranges between 300 meters to 3,200 meters.
Sapura Fabrication’s share in the consortium is 48.3 percent which translates to approximately RM1.47 billion in contract value, Sapura Energy, a parent company of Sapura Fabrication, said.
“The new contract win enhances the company’s presence in the growing market and Sapura Energy is pleased to continue its contribution to India’s oil and gas industry and in helping to meet the country’s increasing energy demand. The project is an opportunity for Sapura Energy to participate in a key development for ONGC, leveraging on the company’s established deepwater knowledge and capabilities,” Sapura Energy said.