SapuraKencana Nets New Contracts Worth USD 124 Mln

SapuraKencana Petroleum Berhad, one of the world’s largest integrated oil and gas services and solutions providers, announced that its wholly-owned subsidiaries have been awarded several contracts with a total value of $124.3 million.

TL Offshore Sdn Bhd (“TLO”) has been awarded a project for the provision of offshore pipeline construction for Nam Con Son 2 Gas Pipeline Project – Phase 1 (“Project”).

The Project comprises transportation and installation of 151 km offshore pipeline in Nam Con Son field and 19 km in Dai Hung field located at South West of Nam Con Son Basin, Vietnam, 260km from Vung Tau.

Work will be performed over two campaigns in the third quarter of 2014 and second quarter of 2015. The Project is valued at approximately USD 89 million.

TLO has also secured a subcontract with PTSC Offshore Services Joint Stock Company for the provision of installation work located in Block 16-1, offshore Vietnam (“Subcontract”).

The Subcontract is for the installation of the Te Giac Trang Field H5 Wellhead Platform Jacket and Drilling Wellbay Module I.

The Subcontract has a value of approximately USD 7.3 million.

Furthermore SapuraAcergy (Australia) Pty Ltd, a wholly owned entity of SapuraAcergy Sdn Bhd, a joint venture company equally owned by SapuraKencana Petroleum and Subsea 7 S.A had, on 19 August 2014, entered into a contract for the transportation and installation of a compressor module and a condensate pump module onto the ‘Yolla A’ platform, which is located in Yolla Field, Bass Strait, Australia (“Works”) with Origin Energy Resources Limited.

The engineering activities for the Works have commenced and the offshore installation campaign is scheduled to commence in the fourth quarter of 2014. The offshore work will be performed for an estimated duration of 8 days.

The contract is valued at approximately USD 28 million.

August 29, 2014; Image: